US futures and EU markets are trading sharply higher this morning, after the Fed announced additional measures to help the market, buying individual corporate bonds amongst the measures. President Trump announced a 1 Trillion dollars infrastructure bill proposal, all that in another attempt to revive the US economy. US futures are higher by 1.4% this morning while their EU counterparts are trading 2.97% higher for the EURSXX50 index. The dollar index is at 96.17 this morning, up 0.07% after dropping nearly 1% late Monday. The growth currencies, the CAD and AUD are gaining versus majors this morning. Gold is trading at $1,734 per ounce this morning, up 0.3% and Silver is trading higher as well, up 0.8% at $17.55 per ounce. Oil reversed early yesterday selloff with a sharp move higher, up 2% and trading at $37.81 this morning as investors expect improved demand after the IEA, the International Energy Agency forecasted yesterday an increase of 1/2 million barrels per day over last month estimates, citing better demand over May lockdowns.

US Retail Sales at 8:30 am and Fed Chairman Powell Senate banking committee testimony starting at 10:00 am are the important news on the agenda Tuesday, (all times EST).

Global Markets 24 hours wrap-up
1 YEAR0.55%-15.56%
Swing report
OIL975771,21010/69584stopped out

The German DAX in trading 3% higher this morning following the leadership of US futures  and ahead of Fed Chairman Powell senate testimony. 

Oil prices reversed higher from a double bottom formation on the 1-hour chart following new stimulus programs proposed by the FED and estimates of better demand near term.

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