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Stock markets are rising as markets expect the Fed to start cutting rates tomorrow, with the S&P 500 and the NASDAQ 100 Indices trading at record high prices.

1. Stocks are bullish, with the MSCI World Index up, and US markets looking especially bullish as the Federal Reserve is universally expected to start a program of rate cuts in the USA tomorrow with a cut of 0.25%. There is even speculation that the Fed will cut by 0.50%, which would send the Dollar tumbling and stock markets soaring if it happened. The two major US indices, the broader S&P 500 Index and the tech-based NASDAQ 100 Index, are both trading at new all-time high prices, and trend and momentum traders will be interested in being long here.
2. Gold and Silver are looking very bullish, with Gold rising strongly to reach a new record high at about $3,689 and Silver gaining by even more to make a new 14-year high price. Trend and momentum traders will remain interested in being long of both.
3. In the Forex market, the Australian Dollar has been the weakest major currency since today’s Tokyo open, with the Japanese Yen the strongest. The GBP/USD currency pair rose firmly yesterday, and traders will be looking for the EUR/USD currency pair to close above $1.1806 to begin a new long-term bullish trend which might be worth following.
4. There will be releases today of Canadian CPI (inflation) and US Retail Sales data.