The opening of the new month in Asian markets is going rather positively. Stocks in China are gaining the most in a month, which is related to good data indicating an economic recovery.
The Shenzhen stock index is up over 2%, while the CSI 300 index is up 1.8%.
The government manufacturing PMI index rose to 50.8, with an expectation of 50.1 and a previous level of 49.1 points.
The Caixin PMI index for the manufacturing in China was 51.1 points for March, with an expectation of 51 and a previous level of 50.9.
Despite good sentiment in China, we saw significant declines in Japan. The Nikkei 225 index lost as much as 1.5%, which was related to concerns about possible currency interventions.
The USDJPY pair remains around the 151.3 level. There is speculation that the intervention level may be located above 152.
According to a former BoJ member, the next interest rate hike will take place in October, even despite the record wage increase negotiated by trade unions.
US index futures are experiencing clear gains after the close of trading last Friday. The US500 is up 0.44%, while the US100 is up 0.6%.
After a very strong rise in gold prices above $2200 per ounce last Thursday, we have further increases today. Gold is rising to all-time highs at $2265 per ounce.
Crude oil is also experiencing a strong opening, and WTI oil is trading at its highest level since October last year at $83.5 per barrel.
Bitcoin started the day above $70,000, but is currently down 0.8%.