Today, all eyes are on the recent assassination attempt on Donald Trump. While this has dominated news headlines, its direct impact on financial markets has been minimal so far. Interestingly, cryptocurrencies saw gains over the weekend, possibly in reaction to the news.
European indices had a turbulent start but are now showing signs of recovery. If the current trend holds, we could see a buy signal emerge soon. Conversely, American indices have opened positively, continuing their upward momentum from last week.
In the currency markets, the New Zealand dollar and Canadian dollar are facing downward pressure, while the British pound and American dollar are seeing modest gains. There aren’t any drastic changes, but these movements are worth noting.
Commodities present a mixed bag today. Oil is battling to stay above a crucial support level, with buyers striving to maintain the buy signal. On the other hand, precious metals like silver and gold are experiencing slight declines, suggesting a short-term bearish outlook.
Monday's macroeconomic calendar is surprisingly active. Earlier, China reported a GDP lower than anticipated at 4.7%, while industrial production exceeded expectations at 5.3%. We are still looking forward to the Empire State Manufacturing Index from the U.S., expected at -5.5. Additionally, Jerome Powell will be speaking at the Economic Club of Washington D.C. later today, which could provide further market direction.