It was another risk-on day on the markets as we saw Indices push higher unanimously, US and European Indices all closed significantly higher for the day as investors embraced the risk on approach. Nasdaq and S&P broke higher to make a new all-time high during the close of yesterday’s US session. Dax and FTSE are still trailing their previous highs but made a substantial push higher in an attempt to reach their previous highs.
The precious metals remain in consolidation this week as no real direction was taken during the week as of yet, how today does close would be pivotal for both Gold and Silver going into next week as NFP is on the horizon. Brent recovered well during the day where it made a daily low of $73.81 before closing the day out just shy of $75 on $74.86.
Bitcoin and Ethereum both recovered well during the day as the alternative asset class attempts to recover some gains that it lost at the start of the week.
There isn’t really any major economic news coming out, however, how the week does close would be fundamental. The Euro, Australian Dollar and Canadian Dollar are the strongest currencies before the European Open while the US Dollar and Swiss Franc are the weakest of the major currencies.
2:30 pm - Core PCE Price Index m/m (USD)
4:00 pm - Revised UoM Consumer Sentiment (USD)