The dollar and FX markets opened the trading week yesterday flat and most markets traded a narrow range session on no news and the US markets Holiday. This morning global futures are pointing sharply lower as investors look to be taking profits from the table with all global leading markets at all-time highs levels and a Moody’s downgrade of Hong Kong and the IMF trimming global economies growth for 2020 and 2019. Earnings season is about to kick in full gear this week, with most of the S&P 500 stocks reporting and a pullback from all-time highs levels is on the table for investors. Gold and Silver traded sideways yesterday, gold closed at $1,560 and Silver closed marginally lower at $18.06 per ounce. Oil prices opened the trading week marginally higher, closing at $58.66 per barrel after two oilfields closed down in Libya, following a military blockade on the area.
Davos World Leaders meetings, (all day) and EU German ZEW Economic Sentiment at 11:00 am are the important news on the agenda Tuesday, (all times GMT).
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Nasdaq futures point to a lower open this morning after a selloff overnight in Asian markets.
Gold and Silver lower this morning despite global markets pullback as investors favor the JPY as their “safe heaven”.
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