US futures and EU markets are trading in different directions this morning, US futures are up 0.5% on average while the EURSXX50 is down nearly 1%. The sharp surge in coronavirus cases in the US, Brazil have no influence on US markets while EU markets are lower this morning after reports of increased Germany corona cases and a higher reproduction infection rates in the continent. FX markets are trading a flat session this morning, typical for a Monday, the dollar index is down marginally after a 4-day uptrend, trading at 97.4 this morning. The Australian dollar is higher 1.1% versus majors as investors move out of the dollar, JPY and CHF. Gold is higher and approaching 2020 highs, trading at $1,757, up 0.25% on the day and Silver is trading higher as well, at $18.01, up 0.8%. Oil is marginally lower this morning, trading at $39.5 per barrel and down 0.88% after investors weight in the rise in coronavirus cases versus the tighter markets supply near term.
There is no important news on the agenda Monday, (all times EST).
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Busted by the weakness in the currencies markets Gold is back to 2020 highs and approaching 7-year highs as well.
Oil prices show strength despite the pickup in the coronavirus global cases and renewed lockdown fears, busted by tighter supplies and investors support.
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