Will US Inflation Data Shake the Week Ahead?

Interestingly, this Monday heralds a period of corrections, perhaps an echo of last week's movements looking for a rebalance. Let's delve into the specifics:

Indices: It seems the rallying cry is discernible among indices. The Dow Jones, as a case in point, is reviving its momentum, taking cues from an absolutely pivotal long-term uptrend line - a sentinel guarding the bullish stance. Concurrently, Nasdaq seems to be on a mission as it's poised to lock horns with a significant horizontal resistance, set at 15,350 points. Over in Europe, the DAX showcases resilience, inching upward post a dramatic V-shaped reversal that colored last Friday's session.

Forex: Shifting focus to the currency playground, today's narrative is correction-centric. Eclipsing its peers, the Japanese Yen, Australian Dollar, and New Zealand Dollar have emerged as the standout performers. Contrarily, the US Dollar is trailing, feeling a downward pressure. This dynamic sketches a backdrop where EURUSD witnesses a bullish uptrend, setting its sights on the neckline of a triple top formation. Meanwhile, USDJPY is undergoing a correctional phase, retreating after touching new zeniths in its long-term trajectory. If we were to encapsulate the mood, it seems the initial hours or perhaps the first couple of days this week would serve as a counter-narrative to last week's drama.

Commodities: On the commodities front, the ambiance is rather neutral, albeit with a sprinkle of bullish undertones. Precious metals seem eager to ascend, while oil maintains its robust stance, lingering tantalizingly close to its recent peaks.