Monday start with stronger USD

Monday start with stronger USD
Let’s take a break from the UFOs flying around the globe and see what’s happening on the markets. Monday starts without any serious fireworks but those first several hours of trading have definitely been positive for the American Dollar who is currently one of the strongest currencies in the pack. In many cases, this is just a simple continuation of the trend that we saw last week and during the whole month of February.
Indices had a very interesting session on Friday. For several of them, it started out with a decline but the American indices managed to create a pullback and close the Friday candle with a significant bullish reversal. The new week is starting off with a small drop, but we are still very early in the Monday session. The reversal from Friday should not be underestimated and can be a hint that buyers will try to fight this week.

The stronger USD is not helping precious metals, approaching monthly lows. The technical situation on both gold and silver does not look encouraging and is promoting a further decline. Oil, on the other hand, had a successful last week, while performing a promising bullish reversal. Friday ended at the monthly highs, beautifully demonstrating the difference between the energies and precious metals situation at the moment.

The calendar today is empty, as is the case almost every Monday. The key data – inflation from Switzerland – has already been published. The forecasts were set on 0.5% and the final number came slightly higher at 0.6%. The initial reaction on the Swiss Franc was positive.
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