US S&P 500 futures and EU markets are trading lower by 0.5% this morning after the strong close yesterday in the US markets and ahead of important S&P earnings today and the upcoming FOMC meeting tomorrow afternoon. FX markets reversed course overnight after 8-day skid for the dollar, the index is up 0.32% this morning versus majors from 2020 lows. Most other markets are trading a flat session, awaiting the move expected in the dollar tomorrow after the FOMC meeting. Asian markets closed a flat overnight session as well, the NIKKEI lost 0.58%. Gold prices went through a sharp overnight selloff as investors took profits off the table in an aggressive manner, prices drop nearly $80 dollars from 2020 highs of $1,981 per ounce, and are trading at the $1,925 level this morning, having traded the largest 1-day trading range this year. Silver futures are at $23.67, down 4% as well. Oil prices are stable over the past 24 hours, trading flat this morning at $41.48 per barrel, ahead of the Inventories numbers set to be released tomorrow morning at 10:30 am EST.
US CB Consumer Confidence at 10:00 am is the important news on the agenda Tuesday, (all times EST).
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Gold prices that skyrocketed this month went through a sharp 4% selloff this morning as investors took profits of the table ahead of the FED meeting tomorrow afternoon.
NASDAQ futures and EU markets are lower this morning ahead of US earnings and the FED meeting tomorrow.
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