Forex Today: Risk mood improves ahead of high-tier data releases

Following Monday's risk-off action, the market mood seems to have improved early Tuesday with major Asian equity indices registering impressive daily gains., which rose more than 0.5% on Monday, turned south with the US Dollar struggling to find demand as a safe haven. European Commission will release the business and consumer sentiment surveys later in the session.

China's securities regulator announced that it will allow real-estate developers to access refinancing. "The fresh move, adding to a flurry of recent government actions to stabilize the housing market and the economy at large, is meant to let listed developers use the capital market to ease their funding woes," Global Times reported. Following this development, the Shanghai Composite remain on track to end the day more than 2% higher and Hong Kong's Hang Seng gains nearly 4%.

Additionally, Global Times commentator Hu Xijin tweeted out "China may walk out of the shadow of COVID-19 sooner than expected," providing an additional boost to risk sentiment. Reflecting the improving market mood, US stock index futures are up between 0.2% and 0.5% in the early European morning.gained its traction after having closed in negative territory on Monday and was last seen edging higher toward 1.0400.

Source: News Formal (newsformal.com)

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