Money Flows before the start of the European trading

Today, the Australian dollar was weak, falling below 0.7 and even dropping below 0.6980 at one stage. There is no big change from these levels at the moment. Two pieces of data in a lower order seemed to get heavy today. Flash PMIs dropped a bit, though still in expanding territory, but it was the sign of employment that attracted little attention:

Employment fell for the first time since April, with most of May 2016. This brought speculation that the country's central bank will lower its interest rates in October instead of the November forecast. According to Westpac, a further decline will follow in February 2020.

The rest of the FX market remains calm for the moment.

Today, the focus is on PMI production reports for Europe, the United Kingdom and the United States.

With the ECB meeting tomorrow, reports today will have the opportunity to change expectations about what the central bank will decide. Futures of key stock indices point to a positive start for today's session, with a cautious tone continuing to dominate. We expect Boris Johnson's first steps as a UK PM, a trade-off of the trading front and a continuation of the corporate season, all of which will determine the movements of cash flows and the short-term trend of the stock.

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