Money Flows before the start of European trading today

It is a calm start to today's trade, with the Australian dollar making the biggest move at night, declining slightly due to weaker than expected data on business confidence in the country.

Apart from that, the other currencies remain stable for the most part, as the risk sentiment remains weak and cautious. The main focus of the markets will be the Fed again, with several statements by central bankers plus the central bank president Jerome Powell himself.

The lack of important economic news suggests that movements will remain in tune with the prudence of the markets pending a central bank action or, of course, developments in terms of the trade war or struggle for a new leader in the UK that will step into the shoes of Theresa May and will try to get the country out of the block as smoothly as possible. Ie, market catalysts are kept the same.

Major stock indices are undergoing a correction after the formation of a new historic peak, but this is now only a breakthrough test at previous record levels. Without a clear extension below the levels of support, investors remain calm and believe in the sustainability of the main trend.

This afternoon, before the start of the US session, we expect PepsiCo's quarterly revenue report. The giant is predicted to publish $ 1.50 earnings per share at $ 16.43 billion in revenue. The company's stock jumped 19 percent this year and 23 percent in the past 52 weeks.

Read more:

• US – Iran – Iraq tension remain the main driver of the stock market today
• How top market players on Wall St think 2020 will look like on financial markets
• Money Flow before the start of the new trading week
• Cincinnati Financial Corporation (CINF.US) -Opportunity for long positions
• Asia stocks gain as Fed signals no rate cuts in 2020