Stocks, Dollar, oil consolidate on a quiet Monday

It looks like volatility will be low today as all the markets were consolidating after last week’s big movements.

US indices were flat during the London session, with the Nasdaq 100 index holding above the psychological 14,000 USD level. EU benchmarks were slightly lower today. 

There are no macro data on the agenda today. Later in the week, the European Central Bank will hold a monetary policy decision, with the central bank expected to keep the rates unchanged and set a cautiously optimistic tone on the economy. That could propel the EURUSD pair above the 1.20 level. 

It looks like US yields have topped, at least for now, which has put some selling pressure on the USD. 

Precious metals continue to be bid amid declining yields, and gold pushed toward 1,800 USD on Monday, while silver reclaimed the 26 USD level. 

Oil was trading flattish at the time of writing, with the WTI benchmark spotted near 63 USD, holding the medium-term uptrend. 

Source: https://www.axiory.com/market-news/stocks-dollar-oil-consolidate-on-a-quiet-monday