ORIGINAL POST: The easiest way to see signs of jubilation in the market at such an early hour of the week.
The aussie dollar is ripping higher to the tune of 1% from its Friday close (chart via FinViz).
This is likely a result of the super-strong reading from China’s official PMI, which contradicts the rampant fears of a hard landing.
But the day is young. Over the next several hours, we’ll get tons of economic data from Europe and the US. Still: So far, so good.
As more Asian markets crank open, the good times are continuing. Both Australia and Japan are up a bit less than 1%.
Here’s the Nikkei
The latest data has just been so-so, with Japan’s Tankan survey coming in weak, while South Korea’s PMI number came in strong. But again, markets are buoyed, it seems, by positive feelings towards China.