Markets Drift Higher Amid Quiet Tuesday Calendar

One notable political development comes from Canada, where the ruling Liberal party has secured a minority government following national elections. While this has not triggered a dramatic market reaction, it provides some clarity for Canadian assets moving forward.

Indices across all major regions—Asia, Europe, and the US—are moving slightly higher. The mood is one of cautious optimism, with investors continuing to push markets upward but doing so carefully, without excessive risk appetite.

On the forex front, we’re seeing modest weakness in traditional safe havens like the Japanese Yen and Swiss Franc. Meanwhile, more risk-sensitive currencies such as the US Dollar, Canadian Dollar, and Australian Dollar are climbing higher as we head into the European session. This shift reflects a gradual risk-on sentiment in the market.

Oil is under pressure again, continuing its recent downturn. The trend suggests we may be entering another bearish leg in crude prices.
In contrast, gold and silver are trading sideways. After the sharp declines seen on April 22–23, gold is consolidating, building a base for a potentially significant move—either a continuation lower or a return to the bullish trend. Traders should be watching for a breakout or breakdown from this tight range.

In the earnings space, we’ll be hearing from some key players today. Before the market opens, Coca-Cola and AstraZeneca are set to report. After the close, all eyes will turn to Visa, whose results could shape the tone for tech and financial sectors.

Although the day starts quietly, we’ll get one important data point later on: the US JOLTS Job Openings report, scheduled near the end of the European session. While not a top-tier release, it will offer insight into the health of the American labor market and may spark some intraday volatility.