Risk-on session throughout all markets with Tech once again shining bright, also bringing up altcoins with the ongoing rally – There has been somewhat of a retracement in the afternoon as markets found what seems to be profit taking again.
The has started the week poorly, with sellers helped by some lower yields on longer-dated bonds ( Bonds saw some decent demand yesterday) and Japan’s PM Ishiba’s political party losing majority, bolstering the strongly.
Markets haven’t found many other catalysts in the absence of key data and major headlines – US President Trump hates silence so you can expect some Tariff menacing headlines soon!
Daily Cross-Asset Performance
Source: TradingView
is again at the top of assets to start the week – Altcoins have also performed well, with and ADA up by nearly 10% on the day.
Many other assets, particularly metals have enjoyed from a sudden US Dollar correction with up around 1.30% (A very decent day for the Bullion), revisiting its highs ($39.13 most recent highs) – and are both continuing their ongoing trend higher.
Longer dated Bonds have been in demand this Monday (30Y UST up 0.80%) and with lower yields overall, tech has been shining on the day (despite some correction towards the end of the session)
A Picture of Yesterday’s Performance for Major Currencies
Source: OANDA Labs
Yesterday was about US Dollar weakness again as the Greenback failed to breach and holds concrete highs after two spikes (forming a double top).
You can check out our latest analysis here to check out levels of interest.
This, coupled with some movement in the Japanese elections, has led the Yen to be at the top of majors (+1% vs USD) – a story to follow as returns to its range.
All majors are leading against the Dollar, but the laggard is the , which has really been struggling since the 1st of July.
Earnings Season: Who Is Releasing Their Numbers Today
Source: Nasdaq.com
today will see the release of some more Consumption and Defense names like Lockheed Martin (NYSE:), Coca-Cola (NYSE:), Philip Morris (NYSE:), SAP (NYSE:) and others.
Markets are still preparing for the 5 Magnificent to post their earnings this week!
A Look at Economic Data Releasing in the Monday Session
MarketPulse Economic Calendar
The calendar is very thin in terms of key releases between tonight’s session and Tuesday.
There will be some focus on APAC overnight with the New Zealand Trade Balance numbers (key) and the RBA Minutes (Potential mover for the AUD).
Later overnight, traders should be watching for the ECB Bank Lending Survey – Releases at 4:00 A.M. ET (can be a big mover for Bunds, the Euro and European Stock sentiment)
Also, do not forget BoE’s Bailey speech at 5:15 for Traders.
There are a few FOMC Speakers today (not forgetting BoE’s Bailey at 5:15 for GBP Traders)
Safe Trades!
