US S&P 500 futures are flat this morning, so are EU markets ahead of a busy week of earnings and otherwise very little financial news on the agenda. That will leave earnings and the coronavirus related news dominating the news agenda. EU markets are still awaiting the results of European leaders Recovery Fund discussions, set to resume today in the afternoon that may deliver a boost to EU equity markets late in the day leading into a disappointing earnings season. FX markets are taking with the Euro this morning, trading at 5-month highs versus the dollar and looking strong versus majors as well. The dollar index is at 95.77 this morning, at 6-weeks lows and down 0.2%. Gold investors are taking advantage of the dollar weakness, Gold is back above the $1,814 level, up 0.3% and Silver futures trade at $19.92, up 0.25% as well. Oil investors are still deadlock above the $40 per barrel over the last 9-weeks, that is as flat as Oil has been in the past 5-years, as demand pickup is offset by a potential OPEC+ production increase, as well as US production capabilities trying to stabilize after the demand drop of 4-months ago. OIL trades at $40.5 this morning, down 0.66%.
There is no important news on the agenda Monday, (all times EST).
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EU markets set to break over 2020 highs on positive “Recovery Fund” news later today.
The EURAUD long trade looks strong ahead of EU leaders decision on additional recovery funds later on today.
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