US futures are higher by 0.35% on average and EU markets are higher by 0.8% this morning. Asian markets, closing in the green the opening week trading day as well as investors look into the upcoming earnings season, set to open today with numbers from the big US banks. Most will look past the second quarter numbers, focusing on the predictions and guidance for the third quarter at to the near-term decision whether to continue and support the markets or take profits before another expected leg down. The technology sectors earnings are set to be released later this month and early August. FX markets opened the trading week flat, on very little news on the agenda and looking ahead to the ECB press conference this coming Thursday. The dollar trades at 96.66 this morning, flat versus majors. Gold and Silver are trading higher this morning, Gold futures are at $1,813 and Silver at $19.5, both up 0.7% and 2.2% respectively. Oil is trading lower after a strong rally on Friday, as investors look ahead to the upcoming OPEC+ meeting this coming Tuesday and Wednesday for the purpose of discussing more on production levels near term. Oil is at $40.11 this morning, down 1.3%.
There is no important news on the agenda Monday, (all times EST).
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Oil will be in focus for investors this week, under scrutiny for more corona cases and OPEC + meetings scheduled this week.
The EURAUD consolidation on daily looks like an attractive long trade ahead of the ECB meeting this coming Thursday.
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