Hello traders, and welcome to a new week of trading! Today’s session promises limited volatility due to the Martin Luther King Jr. Day observance in the United States. With American institutions closed, we’re unlikely to see significant movements during the U.S. trading hours. The calendar is also empty, which further sets the stage for a quiet day.
Let’s start with the indices, where sentiment is strong. Most global indices are flashing green this morning, with many trading near or at all-time highs. Optimism continues to dominate as European markets lead the charge.
On the currency market, the New Zealand Dollar is the standout performer, showing strength at the start of the session. Conversely, the American Dollar and Japanese Yen are on the weaker side, reflecting a mild risk-on sentiment. However, movements remain subdued and lack volatility.
In the commodities market, we begin with a slight pullback in oil prices. Oil is attempting to stabilize around a horizontal support level during the European session. Meanwhile, precious metals are seeing modest gains, continuing the positive sentiment from recent sessions. Both gold and silver are ticking higher, hinting at ongoing bullish momentum.
Mondays are typically quiet, and today might be even more subdued due to the U.S. market holiday. However, keep an eye on European trading for potential surprises. Indices are in prime positions, and any unexpected catalysts could bring movement.
Let’s see how the day unfolds, and whether the calm gives way to any notable developments. Stay prepared and trade cautiously!