Calm Start to the Week as Markets Await Nvidia Earnings

Good morning, traders. As we kick off a new week, the economic calendar is notably quiet today, with no major events scheduled. This calm start places all the market’s attention on Wednesday, when Nvidia is set to release its earnings report. This highly anticipated announcement is expected to be a key driver of market sentiment for index and stock traders.

In other news, headlines are dominated by the tragic death of Iran’s President Raisi in a helicopter crash in northern Iran. This event has sparked widespread speculation about its potential impact on Iran’s foreign relations and geopolitical dynamics. As experts weigh in, the market will likely monitor any developments closely.

On the forex front, the Australian dollar is showing strength, while the Swiss franc is weakening. The American dollar begins the week fairly neutral. The commodities market is experiencing significant moves, particularly in precious metals. Silver and gold are pushing higher today, alongside gains in copper, nickel, platinum, and palladium. This surge in precious metals suggests a strong start for commodity traders.

Turning to indices, futures have opened on a positive note, with many indices either at or near all-time highs. Last week showed a glimmer of potential bearish correction due to shooting star patterns and minor bearish movements on Thursday, but bullish momentum remains robust. Bulls appear to be firmly in control as we begin this week, maintaining the upper hand in market movements.

As the week progresses, traders will keep a close eye on these trends and the key earnings report from Nvidia, which could significantly influence market direction. Let’s stay tuned and see what unfolds in the coming days.

Source: https://www.axiory.com/analytics/market-news/calm-start-to-the-week-as-markets-await-nvidia-ear