NVIDIA's Modest Gains Post-Split; Oil Continues Bullish Run

NVIDIA's Modest Gains Post-Split; Oil Continues Bullish Run
Good morning traders, welcome to Tuesday's market commentary. We've already seen some significant data releases today. The UK Claimant count change came in at 50,000, a major miss that has dampened the mood on the British Pound. As a result, the British Pound to American Dollar pair is currently one of the weakest. There won't be any more tier 1 data today, but all eyes are on Wednesday, which promises to be packed with crucial numbers that could shake up the market.

In the tech sector, NVIDIA began trading post-split yesterday, finishing with a modest rise of just under 1%. While it wasn't a spectacular gain, it's a positive start. Indices, on the other hand, are showing strength. The DAX opened positively, and across the board, indices are either near long-term highs or in the midst of a bullish reversal. The outlook remains optimistic for continued upward movement.

Turning to commodities, oil continues its impressive bullish correction, with significant gains especially noted yesterday. Energy prices are climbing, while precious metals like silver and gold remain subdued, hovering near mid-term lows. Platinum also remains under pressure with ongoing bearish corrections.

In the currency market, the euro and the American dollar are currently leading the pack, showing strength, while the Japanese yen is weakening. This is reflected in the performance of pairs like EUR/JPY and USD/JPY, which are the strongest pairs today. With crucial data expected tomorrow, today's trading may remain relatively quiet as the market braces for what's to come.

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