Almost all markets lift on Friday night, Australia's ASX 200 set to test the 6,000 level today, futures up 28 points

There was a lot of evidence of risk-on behaviour on Friday night. US and European equities were higher on Friday night, crude oil bounced higher, gold and silver were higher, copper/nickel/zinc were strongly higher (unfortunately iron ore didn't follow suit - but let's see if it takes the positive lead today) and the US dollar moved lower to continue its volatile run over the last three sessions. The amount of green in today's Global Markets matrix illustrates this broadly positive move and special mention goes to copper, which has had a rolling monthly move of 6.56%.

Australia's ASX 200 futures expiring June 2015 (first chart) are sitting at 5,998 this morning and this means that--all things being equal--our ASX 200 index has a good chance to open a few points higher than the 6,000 level this morning. The Australian dollar has responded well to all of this (second chart) and has reversed this month's weakness, which saw it trade as low as US$0.7559 10 days ago - it traded as high as US$0.7805 this morning. Given that the world remains so intently focused on US interest rates and the level of the US dollar, this week's biggest event will be the release of February US consumer prices tomorrow night at 11:30pm, Sydney time - the year-on-year measure of core inflation is forecast to move slightly higher from 1.6% to 1.7%, while headline inflation is set to remain at -0.1%.

Today‚Äôs charts are taken from the Rivkin Trader platform. 30,000 global instruments available to trade including FX, commodities, index, ETFs and international shares. Trade Australian share CFDs from just $8 or 0.10%. Click here or phone 1300 748 546 to open a Rivkin Trader account now.

Upcoming economic announcements: No data of note out today, existing home sales in the US (1am) and Eurozone consumer confidence (2am) out tomorrow morning, Sydney time.

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