Money Flows before the start of the European session

Asian markets ended unconvincingly despite Wall Street's upbeat sentiment after Trump's attempt to breathe hope into a trade deal and quell the passion surrounding the drama of impeachment. At the beginning of the new day, cash flows remain rather in the defensive part of the field, with gold, the Swiss franc and the yen reporting increases. Early indications of major European indices point to a more cautious, less open one.

However, "smart money" will have to be adjusted throughout the day and evening, because we may have a scarce foundation for today's calendar, but ... we have enough speeches from bankers. Speeches by both dovish and hawkish representatives of BOE, FOMC and ECB. Also, keep in mind that today we are also expecting all sorts of news and rumors surrounding Brexit, the trade war, and most notably the Trump impeachment. The House has the votes to prop up the procedure, but will the Senate be broken to turn against its own leader? Against the President of the United States of America? Unlikely, but history shows that the Senate has approved impeachment before. Have in mind that he will do everything to save himself and to drive the markets higher. Yesterday he announced that he would release the record from the talks with the President of Ukraine - he did so. Today, it has been rumored that China will buy goods from the US - the markets reacted positively again. Another bluff or not, markets will have to deal with the harsh reality of escalating political uncertainty in the US.

Today, we expect markets to remain rather chippy in the face of Trump's speeches and situation until we find strong sentiment direction. Today we will also expect further clarification from Saudi Aramco on the damage recovery, but it is said that November will be fully prepared for the absolute normal functioning and delivery to customers. The price already reflects the latest report from the company that they are ready for the repairs and that the infrastructure is ready as before before the attack, but it may take longer to reach full capacity.

As I always say, trade carefully. Add another risk to your strategy: Trump - literally.

Read more:

• Risk off after the escalation in the Middle East, markets are recovering in a period of calm
• The macroeconomic events for today’s trading calendar
• The US government has confirmed the attacks, Trump is calling an emergency staff meeting
• Has the war between Iran and the US started?
• US markets remain under pressure, traders await Iran’s response