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However, voters did make a shift to the right, which could make it more difficult for Merkel to form a coalition. The elections had little impact on world markets. U.S. stock indexes are pointed toward slightly lower openings when the New York day session begins.
Gold prices are trading near unchanged. Silver prices are also trading near steady. The firmer U.S. dollar index Monday is a daily bearish element working against the precious metals markets.
Focus this week is on central bankers speeches. European Central Bank President Mario Draghi speaks Monday and Federal Reserve Chair Janet Yellen delivers a speech Tuesday. Other Federal Reserve officials will also give speeches throughout the week.
There were more verbal barbs traded between President Donald Trump and North Korea's Kim Jong Un over the weekend. However, the marketplace on Monday morning does not perceive the U.S.-North Korea conflict has having escalated from last week. However, look for this matter to intensify in the near term.
In overnight news, the closely watched German Ifo business climate index fell to 115.2 in September from 115.9 in August.
The key outside markets on Monday morning see the U.S. dollar index higher.Greenback bears still have the firm overall near-term technical advantage.
Meantime, Nymex crude oil futures are near steady this morning. The oil bulls have the slight near-term technical advantage as prices hover above $50 a barrel.
U.S. economic data due for release Monday includes the Chicago Fed national activity index and the Texas manufacturing outlook survey.
By Jim Wyckoff, contributing to Kitco News; firstname.lastname@example.org