US S&P 500 futures and EU markets are trading higher by 0.35% and 1.63% respectively this morning after the positive close in the US markets Friday and better than expected EU Manufacturing PMI data this morning. Investors are facing a dull market agenda this week until the Friday US job report and the focus will be on the expected US stimulus plan, still debated in the US Congress. Looking at the FX markets, the dollar is higher by 0.45% at 93.77 after trading lower 9 out the last 10 trading days and trading at 2020 lows. Most other FX markets are trading a narrow range opening day of the week, as investors eye the BOE rate decision on Thursday and the NFP job numbers Friday. Gold and Silver are trading near the flat line this morning, Gold is at $1,971 per ounce, just below 2020 and all-time highs, and Silver is at $24.28 per ounce, up 0.44%. Oil is trading at $40.15 per barrel this morning, flat on the day after a weak close Friday as investors fear OPEC+ increased production concerns, as well as a slower than expected projected near-term demand.
US ISM Manufacturing at 10:00 am and is the important news on the agenda Monday, (all times EST).
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Nasdaq futures and EU markets are higher this morning ahead of more earnings and the awaited US stimulus plans.
Oil prices show strong support at $39.5 ahead of another trading week, OPEC+ production and global demand will set the tone for prices near term.
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