The US dollar continued to weaken against the Japanese yen and Swiss franc this morning, but it has gained against other major currencies.

Put simply, Trump is a stock market cheerleader, and I believe the stock market is discounting a second Trump term. This will benefit certain sectors and stocks more than others.

Business activity in Britain’s manufacturing sector improved more than expected. Last week, the pound reached a one-year high due to a decline in BoE rate cut bets. Economists expect the US economy to expand by 2.0% in the second quarter.

The dollar's gains have been extended today, but in the risk-off mode, and unwinding of carry positions, the Japanese yen and Swiss franc are firmer.

Stocks rebounded on Tuesday, with the S&P 500 index reaching a local high of around 5,585 but ultimately closing 0.16% lower after retracing the intraday advance.

S&P 500 had visible trouble extending Monday‘s gain far, and no rally into key earnings served as warning. The relief rally following very weak opex Friday, seems to have run its course – and downside risks are reappearning again, meaningfully.

Making sense of home sales and prices data is challenging as there is little activity in the real estate markets.

Given the interplay of various bullish and bearish factors, the GBP/USD pair is likely to enter a period of high volatility and range-bound trading.

During this morning’s Asian trading session, the price of gold remained above the $2410 level. The price of silver is recovering from above $29.00 and receiving support from the EMA 50 moving average this morning.

Shoe Carnival, Inc., together with its subsidiaries, operates as a family footwear retailer in the United States.

The probability that an NBER-defined recession has started or is imminent is roughly 9%.