We’re starting the new trading week with strength across key markets.
Cryptocurrencies are climbing after a volatile but ultimately bullish weekend. Friday brought a false breakout on Bitcoin, but buyers regained control, and the price pushed higher over the weekend. Momentum remains with the bulls as the new week begins.
Indices are either at all-time highs or hovering just below them. This is a strong open for equity markets, and long positions remain firmly in the green.
On the currency front, we’re seeing weakness in the Japanese yen and strength in the U.S. dollar. That’s setting the tone early in the FX space.
Commodities are leaning positive this morning.
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Gold is trying to stage a rebound, currently defending a mid-term uptrend line, though its broader trend remains shaky. Bulls would welcome a sustained bounce here.
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Oil continues to move sideways, still locked in a correction pattern after the recent downtrend. Given the setup, a further move to the downside remains more likely, unless bulls regain momentum soon.
As expected, Monday’s macro calendar is quiet, and Tuesday won’t bring much action either on the economic front. That leaves traders to focus on technical setups — at least until earnings take center stage.
Speaking of earnings, Tuesday will be big, with major names reporting. Keep your eyes on:
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Visa
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Procter & Gamble
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AstraZeneca
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Merck
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Booking Holdings
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Boeing
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Starbucks
Some of these companies will report before the open, so market reaction could come early. No need to wait for after-hours this time.