Let's take a look at how price is actually behaving across markets this week.
SPOT FOREX (Dollar Firms, Bitcoin Slips Again)
The dollar firmed against CHF, JPY, GBP, NZD, and EUR. It softened only slightly against CAD and AUD.
EUR is the weakest of the majors, down against both USD and GBP.
Bitcoin fell for a second straight week, down 1.26%.
FUTURES (US Equities and Softs Advance, Precious Metals Slide)
Softs led the board. Sugar's gain of more than 11% was the largest move of the week.
US equity futures rose, with Nasdaq up 1.98% and S&P 500 up 1.81%.
The VIX fell 1.50%. Europe went the other way, with DAX and Euro Stoxx 50 both lower.
Precious metals sold off. Palladium, platinum, gold, and silver all declined together, while copper held modestly higher.
STOCKS (Networking and Software Lead, Memory Sells Off)
Networking and commerce names led. CSCO and MRVL both posted strong gains alongside SHOP.
Memory and storage took the other side. SNDK and MU fell together, with INTC joining them.
HSBC and AMGN among the weakest show the pullback was not confined to chips.
Technical Takeaway
This week's price action is defined by selective risk.
US equities rose and volatility eased while the dollar firmed and Bitcoin slipped.
European indices lagged, and precious metals sold off.
Within stocks, networking led while memory and storage fell.
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