The U.S. Dollar is trading in mostly weakened ranges across the board as markets deal with several items affecting market sentiment as data from previous months keeps getting released.
Major banks are awaiting their earnings, Fed members may provide useful commentary and insight, and markets are watching from a Supreme court decision on the legality of imposing tariffs.
Equities have faced two straight sessions of losses, the first time thus far into the new year with the S&P 500 down another 0.4%. Meanwhile, metals continue their outstanding start with Silver prices surging past $90.0 for the first time ever. Additionally, oil prices continue their recent climb as OPEC producer Iran faces turmoil with serious protests that have turned violent. Bitcoin, the disappointed asset in 2025, is back to $95.0K per coin for the first time since November.
Producer Price Index figures released earlier showed that prices for suppliers climbed for the month as expected, but flat when excluding Food and energy costs. The annual PPI average went up from 2.7% to 3.0%. Consumption was a little better than predicted coming in at 0.6% vs. 0.5%. The mixed market mood is keeping wild swings from occurring while some geopolitical tensions are clouding concern over the situation with the Fed and the handing of subpoenas. It is possible Euro takes a bit of a hit as earnings were revised downward.
What to Watch This Week…
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