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Steady state

Asia Pacific markets are looking at a calm start to the trading week. Last week closed with muted share market moves, a slightly weaker USD and stabilising commodity markets. The start of the week sees only secondary data releases and scarce corporate news, meaning there is little to rock the market boat.

Oil, copper and iron ore all rose on Friday night. The gains were modest, but collectively point to improved industrial sentiment. Precious metals also made small gains on a slightly weaker USD. Calm and positive trading pushed Asia Pacific futures markets higher indicating a good start to the week.

The gains in the US were balanced by modest falls on European bourses.  However bond markets continue to challenge investor sentiment, persisting at lower yields that reflect bearish inflation expectations. Major European nations release inflation data this week, culminating in the continent wide reading on Friday night. Any further growth surprises could spur investors, as could China PMIs released on the same day.

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