The EUR is the strongest and the AUD is the weakest as the NA session begins

The EURUSD is the strongest and the AUD is the weakest as the NA session begins. The week will be highlighted by US CPI tomorrow which will be the last key economic data released before the Fed decision on Wednesday at 2 PM. Also this week will be the SNB, ECB and the BOE which are all expected to raise rates by 50 bps as well. IN the UK today the manufacturing production increased by a higher than expected 0.7% for the month of October. The GDP estimate for Oct was also higher at 0.5% vs 0.4% helped by the spending after the Queen's death.

The weekend forex report outlines the key events and all the key technical levels in play for the major pairs vs the USD through the tidal wave of rate decisions this week. You can watch it by clicking on the link below:

Today's event calendar is bare in both the US and Canada, and with blackout periods in effect, the speakers schedule is also empty. The markets will be positioning for the events later this week. Overnight, the markets were impacted by the increasing China covid cases as they start to experience, what other nations went through after relaxing covid policy. The Hang Seng was down -2.20% and the Shanghai composite index was down -0.87%.

Treasury Sec Yellen said last night that the US does not to have a have recession to bring inflation down.

US indices Indices Stock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important investors as they help compare current price levels with past prices to calculate market performance.The main two parameters for indices are that they are both investable and transparent. For example, investors can invest in a stock market index by buying an index fund, which is structured as either a mutual fund or an exchange-traded fund, and track Stock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important investors as they help compare current price levels with past prices to calculate market performance.The main two parameters for indices are that they are both investable and transparent. For example, investors can invest in a stock market index by buying an index fund, which is structured as either a mutual fund or an exchange-traded fund, and track Read this Term are marginally higher as implied by the futures markets in pre-market trading. Last week the major indices moved lower by -2.77% for the Dow, -3.37% for the S&P and -3.99% for the Nasdaq. US yields are lower today after gains on Thursday and Friday. The 10 year moved below its 100 day MA on Tuesday. The move higher took the yield back above the 100 day MA at 3.51. Gold is lower and moving away from $1800. Crude oil moved to the lowest level since December 2021 on Friday at $70.10. The low today reached $70.27 as concerns above China weigh on the price of oil.

A look around the markets show:

• spot gold Gold Gold is the most widely traded and important commodity. Prized for its historical importance and used for trading an exchange of goods, the gold market today is estimated at nearly $2.4 trillion.The value of gold fluctuates constantly, as it trades on public exchanges where it has a price that is determined by supply and demand. Gold has historically had tremendous significance and even today is extremely sought after. Gold has been used as a currency as it doesn't corrode, and the material allo Gold is the most widely traded and important commodity. Prized for its historical importance and used for trading an exchange of goods, the gold market today is estimated at nearly $2.4 trillion.The value of gold fluctuates constantly, as it trades on public exchanges where it has a price that is determined by supply and demand. Gold has historically had tremendous significance and even today is extremely sought after. Gold has been used as a currency as it doesn't corrode, and the material allo Read this Term is trading down -$8.71 -0.47% at $1788.63
• spot silver is down -$0.10 or -0.43% at $23.35
• WTI crude oil is trading down -$0.13 at $70.89
• The price bitcoin is $16,966. The range over the weekend was relatively narrow with the high price at $17,264 on Sunday and the low price reached today at $16,881.

In the premarket for US stocks, the futures are implying a marginally higher opening after declines on Friday

• Dow Industrial Average up 78 points after Friday's -305.02 point decline
• S&P index up 11.25 points after Friday's -29.13 point decline
• NASDAQ index up 26 points after Friday's -77.39 point decline

In the European equity markets, the major indices are lower

• German DAX -0.41%
• France's CAC -0.39%
• UK's FTSE 100 -0.3%
• Spain's Ibex .0 .53%
• Italy's FTSE MIB -0.1%

in the US debt market, yields are lower:

The European debt market, the benchmark 10 yields are lower as well