Futures are up modestly as traders look ahead to this week’s important data dumps: FOMC minutes and CPI on Wednesday, initial claims and PPI on Thursday, and Friday’s U of Michigan consumer sentiment.
continued for members…
So far, markets are following the usual practice of ramping higher in front of a CPI report. But with ES back above its SMA20, it’s hard to get excited just yet.
Currencies are still positioned to protect equity prices, with EURUSD above its SMA200 and USDJPY at previous highs.
Gold continues its breakout while SI finally pushed above its former highs.
CL and RB are pausing in the midst of a still troubling geopolitical situation.
TNX is slightly higher anyways…
continuing…