As infection rate globally grew over the weekend it carried over to the equities market as global indices sold off. The US equities all closed lower as sellers took control when the US markets opened for the week. European indices lead the charge as the selloff started as the market opened driving the Dax and FTSE lower erasing all of last week's gains.
Gold closed the day positively recovering from its daily low of $1763, to close the day on $1777, the Asian session drove Gold higher as the store of value commodity was trading at $1785 at the time of writing. Silver remained range bound as it fluctuated between $25.75 and $26.25. Brent was driven lower as the US opened as global economic recovery concerns caused the selloff in oil, seeing price drop over $2 to hit a daily low of $65.
Bitcoin recovered well yesterday after hitting a daily low of 53 373 to close the day higher on 57 044.
Today is filled with economic data as this morning saw CPI was released out of New Zealand that came out as forecasted at 0.8%. Retail sales increased to 1.4% coming in higher than expected. Focus will shift to Canada this afternoon as CPI is set to be released along with the Monetary Policy Statements. Prior to the European open there’s a lot of GBP and CAD strength that is coming into the market while the EUR weakened across all major currencies.
12:45am - CPI q/q (NZD)
8:00am - CPI y/y (GBP)
12:30pm - BOE Gov Bailey Speaks (GBP)
2:30pm - CPI m/m (CAD)
4:00pm - BOC Monetary Policy Report (CAD)
4:00pm - BOC Rate Statement (CAD)
4:30pm - Crude Oil Inventories (USD)
5:00pm - POC Press Conference (CAD)