Europe and Bitcoin Rally To Start the Week

European markets have kicked off the new trading week in rally mode with the Dax up 1.4%, the CAC up 1.2% and the FTSE up 0.7%. Positive momentum has continued into early North American trading where US index futures are up 0.4%-0.5%.

Bond markets are closed for Remembrance Day / Veterans Day and there are not economic reports today either as banks and government offices are closed. There is some economic news later in the week headlined by US consumer prices on Wednesday, Fed Chair Powell speaking Thursday and retail sales for both the US and China on Friday.

There is a mixed group of big cap companies reporting. US headliners include Home Depot on Tuesday, Cisco Systems on Wednesday and Walt Disney on Thursday. In Canada, big name reporters include Shopify, Loblaws, and Suncor Energy all on Wednesday.  

Home heating season appears to have arrived with Natural Gas soaring 7.6% so far today. US Crude Oil and Copper, on the other hand, are down 2.2% and 0.8% respectively. Gold is down 1.2%. Bitcoin has blasted through $80,000 to start the week, gaining 3.1%.

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