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Stock markets are mostly higher as the week gets underway, boosted by the perceived increased likelihood that the Fed will cut rates by 0.75% at least over 2025.
- Gold and Silver remain very bullish after reaching new record highs yesterday, with Gold still looking stronger than Silver as it broke to an all-time high just above $3,650 per ounce. Silver reached a new 14-year high above $41 per ounce. Trend traders will still either be in long trades here or keeping a close eye out for any new highs. Precious metals are in a strong long-term bullish trend, especially Gold.
- Stock markets remain generally bullish after it became very clear following last week's weak US jobs data that the Fed is bound to cut rates at its next meeting, and probably at the following two meetings remaining in 2025 as well. With no high-impact events scheduled until Wednesday (US inflation), a clear path to continuing gains today can be seen. The S&P 500 Index and the NASDAQ 100 Index remain very near their record highs, with the S&P 500's high made just last week.
- The Forex market has started the week with a bit more volatility than we saw last week, but the price movements overnight were slight and meaningless. Weakness in the Japanese Yen is a persistent theme, which many analysts explain as a growing belief that even though Japan's GDP growth has become more positive, it is not yet strong enough to justify any rate hikes.
- There are no high-impact data releases scheduled today. Tomorrow (Wednesday) there will be a release of US PPI (purchasing power index) data, which is expected to show a slower month-on-month increase of only 0.3%.