Hello traders, and welcome to a brand-new trading week. Monday begins with a calm tone on the macro calendar, offering traders a quiet start after an eventful period of volatility. The only significant data came overnight from China, and it was better than expected — GDP rose 4.8% vs. 4.7% forecast, while industrial production surprised to the upside as well, coming in at 6.5% compared to 5% expected. These figures paint a stronger picture for the Chinese economy and add a layer of optimism for global growth sentiment. The rest of the day, however, looks devoid of major macroeconomic releases, with both the economic and earnings calendars remaining light.
Turning to the markets, the tone this morning is broadly risk-on. Indices continue to build on their strong Friday recovery, extending the rebound that started at the end of last week. Both European futures and U.S. indices are trading higher, showing growing confidence among investors after the recent pullback. The bullish sentiment on equities is being reflected across other asset classes as well.
On the currency market, we can see the American dollar, Australian dollar, and Euro showing notable strength at the start of the week. On the flip side, safe-haven currencies such as the Japanese yen and Swiss franc are under pressure, which perfectly aligns with the current risk-on mood. Traders seem to be more comfortable taking on risk, with capital flowing back into higher-yielding assets.
Moving to commodities, gold had a sharply bearish session on Friday, and the new week opens on a more neutral note — prices are trading flat near last week’s closing levels. Silver follows a similar path, also hovering near unchanged levels after a bearish Friday. Oil, meanwhile, is showing early signs of weakness. Despite Friday’s short-lived bounce from long-term support, Monday brings renewed bearish pressure, suggesting that the struggle for direction continues.
Finally, a bright spot comes from the cryptocurrency market, which had a successful weekend. Bitcoin in particular enjoyed strong Sunday gains, and Monday’s session starts positively as well. The leading cryptocurrency is pushing higher, signaling that investors are once again dipping their toes into digital assets after the previous week’s turbulence.
Overall, Monday opens in a risk-on tone, with indices climbing, safe havens retreating, and cryptocurrencies shining. The quiet calendar may give markets a chance to stabilize and digest last week’s movements before the heavier earnings schedule later this week.