US S&P 500 futures are sharply higher this morning and the European leading index the EURSXX50 is trading higher by 1.6% and at 2020-highs following yesterday rally in the US markets and EU leaders decision to make a recovery fund worth of 2-Trillion euros available to EU markets. The fund will be made available through loans and grants and it is by far the most aggressive program ever for the EU, doubling the EU budget in the coming years. FX markets sent the Euro tumbling lower versus the growth currencies, the AUD and CAD, down 1.3% and 1% respectively, while the reaction versus the dollar was minor. The dollar index trades lower as well this morning, down 0.1% at 95.73. Gold and Silver futures are higher this morning on the dollar and Euro weakness, Gold futures trade at $ 1,827 per ounce, up 0.55% and Silver futures are higher by 3.3% at 20.89 per ounce. Oil prices reacted in a positive manner to the bullish global equity markets rally and the EU deal, up nearly 3% this morning and finally over the 8-week consolidation level, trading at $42.1 per barrel. US inventories numbers tomorrow are the next barrier for more upside near term, as well as more on the OPEC + proposed production levels.

CAD Retail Sales at 8:30 am is the important news on the agenda Monday, (all times EST).

Global Markets 24 hours wrap-up
1 YEAR8.09%-16.22%
Swing report
EURAUD62230.852213.76330stopped out
EURSXX503969201,45020/73400 SL changed

EU markets are trading at 2020-highs after the 2-Trillion recovery fund was approved the EU leaders.

The EURAUD long trade looks strong ahead of EU leaders decision on additional recovery funds later on today.

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