US equities up on Tuesday, continuing in bullish mode

Traders bought US equity futures again on Tuesday, and indices were trading half a percent higher during the London session as the recent correction seems to be over.

Data released earlier Tuesday showed continuous progress in China’s economic recovery in August, with retail sales increasing 0.5% year-on-year and industrial production increasing 45.6% year-on-year. Both figures beat expectations, and retail sales reported their first increase in 2020.

In the FX world, the greenback continues to trade weaker, and the EURUSD pair is again testing the 1.19 level. It appears the cable has also found its bottom and commodity-linked currencies are notably stronger as well since yesterday. 

Commodities are seen higher as well, mainly due to the weaker dollar, and gold is pushing toward 2,000 USD again, while silver was seen near 27.30 USD at the last check. 

Later in the day, German ZEW surveys are due, and the market expects a slight deceleration, which might influence the euro and German DAX index.

During the US session, import and export price indices will be released, along with industrial production and capacity utilization numbers. 

Source: https://www.axiory.com/market-news/us-equities-up-on-tuesday-continuing-in-bullish-mode