We’re seeing a steady start to the new day, with the PMI slump from yesterday not really impacting the risk mood all too much. In fact, outside of a sell down in the euro and pound, there wasn’t much of an outsized reaction. The focus this week remains on key central bank meetings, and we’re starting to get to the point where other things can be ignored.
US equities held up relatively decently yesterday and Asian stocks are rallying today amid some China optimism. US futures are flattish though and that is setting up for a rather mehhh kind of open in Europe.
In terms of data, there won’t be much to add to the excitement. The German Ifo business survey is the highlight in the session ahead and that means markets will be left to their own devices as traders and investors start preparing for the Fed tomorrow.
0800 GMT – Germany July Ifo business climate index
1000 GMT – UK July CBI trends total orders
That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.