September US Empire Fed -8.7 vs +5.0 expectedCanada manufacturing sales for July 2.5% versus 1.8% estimateCanada's Carney threatened to block Teck Resources merger if HQ not in CanadaThe US is hiring staff to fix CPI reportingCameco shares hit a record as US looks to boost national uranium stockpileGreer says US open to considering further action on tariff pause if talks are positiveBessent announces the US has reached a framework with China on TikTokBessent says US won't impose tariffs on China for buying Russian oil unless Europe doesTrump: US-China meeting has gone very wellMarkets:Gold up $39 to record $3681US 10-year yields down 2.1 bps to 4.04%WTI crude oil up 67-cents to $63.36S&P 500 up 0.5%Nasdaq rises for ninth dayCAD leads, USD lagsIt was a Monday melt-up in equity markets that started with modest gains that slowly extended. The positive momentum extended after a soft Empire Fed and a spike in Tesla shares after Elon Musk bought $1 billion shares in the open market on Friday, according to a filing. Shares of Google also hit a record on increasing interest in Gemini after the latest (and impressive) Nano Banana image model.The market is anticipating a Fed rate cut and a dovish message this week. That's kept the wind in the sales of risk assets and gold while weighing on the US dollar. It's a momentum trade that risks a 'sell the fact' reaction on Wednesday afternoon. The market remains fully priced for 25 bps but the odds of a surprise 50 bps have dwindled to negligible levels, in large part due to the lack of leaks.The Canadian dollar rose to a 10-day high after stronger manufacturing data pushed back on the NAFTA breakup theme. I spoke about the loonie with Reuters as it finished near the best levels of the day.Gold was also a tailwind for the Canadian dollar and all commodity exporters. It notched a record high for the first time in a week. This article was written by Adam Button at investinglive.com.