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Money Flow before the start of the European session
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Loading...For now it is a quiet start of the day, following the short volatility of yesterday, with the major currencies remaining unchanged for the moment.
Shares and bonds are also looking for a direction moving around their opening levels, but let's see what the markets have prepared for us in the next few hours as we navigate through a limited number of economic news.
At 11:30 we expect CPI data in the UK. Inflation data remained stable on the Island for now, and yesterday's salary figures confirmed this opinion. However, this is not the focus of BoE now, with the central bank having to pay more attention to the weakening local currency and the prospects for Brexit without a deal. In that case, a solid report today could help the pound recover some of its lost positions, but this will not change the fact that the sentiment around the currency remains weak. It is hard to imagine that pounds can make a big impulse upward.
In the afternoon at 15:30, we are expecting news about the US housing market. Are you recovering from this market? The Department of Commerce will report on the launch of housing and construction permits for June. Economists expect construction of new homes to fall to an annual rate of 1,261 million last month. It is foreseen that building permits showing future demand will show a slight increase of up to 1.3 million. If there is any sudden change in the forecast, look at whether it will happen in multifamily homes. The beginnings of construction and permits are more variable in buildings with five or more units. The start of construction and family permits has a greater impact on the economy.
Will the oil stocks fall for the fifth consecutive week?
The Energy Information Administration (EIA) report expected today comes after oil prices continued to decline for a second day on Tuesday when President Donald Trump mitigated his rhetoric about Iran.
Trump insists his administration "is not seeking a regime change" in Iran, and acknowledged the foreign minister's desire to start talks with the United States on its missile program.
"They would like to talk and see what will happen," Trump said, relieving tensions in the United States and Iran.
Reports by Netflix, IBM and Bank of America
Markets ended the session yesterday a little bit below its historic peaks and quarterly reports of a bunch of big companies, such as Netflix, IBM and Bank of America, can remove the ceiling of this rally
There is an interesting trading session with many catalysts and unknown but certainly many profit opportunities.
Trader Aleksandar Kumanov Read more:
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