Commodities outlook: oil and gold
What are the projections for the oil and gold prices? Let's discover that in the review for commodities.
US Dollar stands at One-Month Lows more sell off comes
Information is not investment advice
Ichimoku Kinko Hyo
CHF/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
Fibonacci Levels
XAG/USD: Silver continuous to stand below 38.2% retracement area. Bullish pressure is growing during the last days.
EU Market View
Asian equity markets began the week with mostly cautious gains and US equity futures marginally pulled back from record highs. European stock markets are seen opening slightly lower Monday, consolidating from record levels with the corporate earnings season to continue and investors awaiting the latest European Central Bank meeting. Global stock markets have been riding high of late, helped by strong corporate earnings, the expectation monetary policy will remain accommodative the world over and the continued rollout of Covid-19 vaccines. Later in the week, the European Central Bank will hand down its policy decision, with the central bank likely to keep the rate unchanged and to strike a cautiously optimistic tone on the economy. The Covid-19 pandemic retains a menacing presence, with the U.K. government saying on Sunday that it’s closely monitoring the spread of variants and cautioned it is too early to say if hospitality venues in England can reopen indoors as planned next month.
The dollar traded largely flat in early European trading Monday, remaining near a one-month low, with Treasury yields hovering near the lowest levels in five weeks.
Oil prices edged lower Monday, struggling to add to recent gains amid concerns that surging coronavirus infections in the likes of India could have implications for global economic activity.
Highlights today include ECB asset purchases and earnings from IBM, Coca-Cola and United Airlines.
EU Key Point
- European equities little changed to start the day.
- Dollar loses a bit of ground to start the session.
- Germany reports 11,437 new coronavirus cases, 92 deaths in latest update today.
- Osaka's Governor to request a state of emergency declaration.
- Goldman Sachs expect US stock market volatility to climb much higher in the weeks ahead.
Gerasimos Papagiannis
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Commodities outlook: oil and gold
What are the projections for the oil and gold prices? Let's discover that in the review for commodities.
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