Monday's Market Minute: Three Focal Points This Week

The focus for investors and traders this week will be the U.S. dollar, earnings, and economic data. Let's begin with the last of the three: most of the attention this week will be directed towards the inflation figures due out Tuesday. CPI is expected to come in around -0.1% on a month-over-month basis and show a nice decline from 8.5% to 8.0% year-over-year. The core inflation figures are expected to come in slightly higher at 0.3% M/M, and Y/Y a slight uptick from 5.9% to 6.1% is anticipated. Wednesday, we'll get a look at PPI; on Thursday, Retail Sales; Friday, Consumer Sentiment. Don’t forget about the WASDE report this morning if you’re trading the grains.

In terms of companies reporting quarterly results, just a handful of names to watch, most notably Adobe ADBE and Oracle ORCL.

Lastly, the U.S. dollar is retreating rapidly from the new 20-year highs we saw last week. This comes as the euro currency firms after the ECB raised rates last week by 75 basis points and signaled more to come. The ripple effect from the dollar easing is widespread: crude oil is back to near $88, off the lows we saw last week around $81 when the dollar was at its high. Other commodities such as gold, silver, and the grains all have come off recent lows. Even Bitcoin is on the move higher with the dollar pulling back – the futures are back to 22K overnight.

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