We are witnessing a steady start to the new day, with yesterday’s PMI dip not really affecting risk sentiment much. In fact, apart from selling down in the euro and sterling, there hasn’t been much of an overreaction. He remains in the spotlight this week key meetings of the central bankand we’re starting to get to the point where other things can be ignored.
US stocks held up relatively well yesterday and Asian stocks are gaining today on some Chinese optimism. However, US futures are flat, and this is shaping up to be more likely mehhh somewhat open in Europe.
There won’t be much to get excited about on the data side. Germany’s Ifo business survey is the highlight of the next session and that means markets will be left to fend for themselves as traders and investors start preparing for the Fed tomorrow.
0800 GMT – Germany July Ifo Business Climate Index
1000 GMT – UK July CBI Total Orders Trends
That’s it for the upcoming session. I wish you all the best in the days to come and good luck with your trading! Stay safe out there.