Stocks are soaring today, supported by outsized gains from Big Tech names, while traders await the Federal Reserve's January meeting minutes.

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Consumer inflation was softer than expected in January, but the news hasn’t changed the market’s outlook for the Federal Reserve to keep its target interest rate steady until June.

The price movement in the broad S&P 500 index is relatively calm.

Although the benchmark indices opened flat, they traded positively throughout the session and ultimately closed green.

US Inflation And Q4 GDP

The US Dollar Index holds above 97.00 as traders await key US data and FOMC minutes.

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A review and analysis of the precious metals markets.

The Dollar is regaining momentum amid cautious central bank signals, mixed global inflation and policy developments.

The US dollar was sold to new session lows against several currency pairs late in the North American afternoon yesterday, but there has been little follow-through today.

The USD/SGD has taken on a rather cautious dance the past handful of days

The US dollar has been gaining back some ground in the last few days, though that could change again as we transition to the second half of the week where economic data will come into focus again.

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This is what I expect to see from the coming week's data releases.

The CPI components suggest that inflation’s glide path through the “final mile” will remain sticky.

The concern about the dollar losing its status as the reserve currency is silly. But there is a real issue with banks, pension funds, and other investors moving away from dollars.

Wall Street loves a simple story and is happy to jump on a trend with momentum, selling products to unwitting consumers. A good example of that lately has been the “weak dollar” narrative, which has pushed investors to chase foreign assets.

While the S&P has hit a new record high this year, it is having a difficult time rising back above 7,000. The technical action is weak, and the 20-Daily Moving Average is in danger of crossing below the 50-Daily Moving Average.