Indices Climb as Dollar Retreats

Today, the UK’s construction PMI, anticipated to notch at 46.1, may offer insights into the sector's resilience amid economic headwinds. Meanwhile, the Ivey PMI from Canada, expected at 54, could provide a pulse check on the Canadian business climate.

Attention shifts slightly as we approach Tuesday, with the Reserve Bank of Australia poised for a potential interest rate hike, a 25 basis-point uptick to 4.35 percent being the market consensus. Traders holding positions in the Australian dollar should brace for volatility.

On the corporate front, today's earnings calendar is packed with heavyweights like Alibaba, Sony, and British American Tobacco poised to disclose their fiscal health. These releases could inject additional vigor into market sentiment.

In the currency sphere, the US dollar exhibits a weakening stance, allowing the euro to ascend to its zenith since September, while the Aussie dollar revels in its strength, reaching august heights not seen since August. The Loonie isn't left behind, pushing the USDCAD pair to its lowest echelon since mid-October.

Equity indices are relishing a bullish bonanza, with the past week’s performance painting a robust picture for long position holders. Today's continued uplift suggests the momentum is far from waning.

Transitioning to commodities, gold and silver maintain their equilibrium, trading within a confined range. However, the crude market is exhibiting signs of recovery today, although Friday's downturn has cast a shadow over its short-term prospects, as prices linger below pivotal resistances, hinting at potential further declines.