Good morning and welcome to Monday! This week is set to be filled with volatility and numerous market opportunities, with a packed calendar promising plenty of action. Let's start by looking at what's happening in the market right now.
Indices are attempting a minor bullish reversal. American futures are on the rise, while European markets are displaying mixed signals. The standout performer in Europe is the FTSE, which is currently stronger than its peers.
In the commodities sector, we see a divergence. Precious metals are experiencing a slight increase, whereas oil is struggling and trending downwards today. This divergence between these types of commodities is worth noting. On the currency front, the Japanese Yen and American Dollar are showing significant gains, whereas the British Pound is currently the weakest. It's interesting to observe this contrast where the London Stock Exchange is performing well, but the British Pound is not.
As for today's calendar, it's a quiet start with no major data releases. However, we are gearing up for a week full of key events. The only highlight on the earnings calendar today is McDonald's, which will be releasing its earnings before the American session begins. For now, we can adopt a wait-and-see approach, keeping an eye on the notable movements in the American Dollar and Yen, which are gaining traction.
Let's keep an eye on how these trends evolve throughout the week. Wishing everyone a successful trading day!