The EUR/USD pair hovered around 1.1900 throughout the first half of Tuesday, unable to attract investors ahead of the release of United States (US) data. The Greenback enjoyed some near-term demand ahead of the release of Retail Sales data, but quickly changed course after the disappointing reading.
Near a mark of 6,979.50 at the moment in futures trading, the S&P 500 is flirting with its highest level, this as financial institutions and large players both continue to stress nervousness although it appears they are buying.
The S&P 500 initially pulled back on Monday, but we continue to see the markets attempt to break above the 7,000 level. This is a market that eventually goes higher from what I can see.
The silver market has jumped above the 50-day EMA on Monday, as traders continue to look at this market overall. That being said, this is a market that is also trying to heal from a horrific selloff.
Gold continues to show signs of strength on Monday with the US dollar falling, and the overall outlook for central bank rate cuts, especially in the USA.
The Euro rallied a bit during the early hours on Monday as the markets continue to bet on rates dropping in the USA.