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FXstreet.com (Barcelona) - Global financial markets have been a happier place more recently, with US economic data being more balanced, increased belief in more developed world easing and an easing of tensions in Europe. According to the NAB Analyst Team, "This drop in market risk aversion, rise in yields and stabilization in commodity prices has assisted the AUD higher."

In Australia, perceptions of global economic growth have improved more recently, albeit that is seen more in the hard rather than the survey data. "This may persist over the coming weeks given the dearth of new top-tier economic data or policy meetings - the absence of news to contradict that improved sentiment should see the AUD hold at present levels in the very near term." the Team adds.

However, events with the possibility could derail this level of comfort remain in Europe, and Greece in particular. In brief, there appears to be a greater level of co-operation and lower negative tail-risks.

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