US futures are trading in positive territory and EU markets are sharply higher as investors look past the US civil unrest and the China tensions and focus on recovering and reopening efforts. The DAX is trading up 3.1% this morning and EUSXX50 index is up 2.55% as well. FX markets are shunning away from the US dollar following Goldman Sachs downgrade yesterday, the index is down 7-days in a row, and trading at 97.6 this morning, down nearly 3.5% over the past 7 trading days. The move into riskier assets is hurting the other “Safe Heavens” as well, the JPY is at 15-week lows versus the Euro and 25-week lows versus the AUD. Gold trades near the flat line this morning despite the weaker dollar, down 0.41% and trading at $1,750 while Silver is at $18.72 per ounce this morning, down 0.36%. Oil price continue to move higher on expectations of additional OPEC+ production cuts, trading up 2% at $36.13 per barrel, at 3-month highs. Tomorrows Inventories numbers will signal is the sharp upswing from 2020 lows will continue and propel prices towards the $40 per barrel level, last traded May first.
There is no important news on the agenda Tuesday, (all times GMT).
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Nasdaq futures are a tad from all-time highs levels this morning despite the US civil unrest and China tensions headwinds.
Goldman Sachs bet on the NOK vs the Dollar worked near term for traders, the swing trade gained yesterday 140 pips.
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