Today's economic calendar shows poor data; the events from Europe, USA and Canada are missing, the markets seem more relaxed on the second day of the week.
The data expected from Europe at 9:00 am trade balance of Switzerland and at 11:30 am net lending in the UK public sector. The data is unlikely to provoke serious movements at the European markets.
European indexes will likely move in a narrow range, as those movements are transferred indexes overseas. Today, there is no reason to reach extreme market levels, rather the trade will be dull and frustrating for more aggressive investors.
The currencies movements probably will continue since the beginning of the week. The Dollar is likely to break through levels of 1.08 against the Euro. The GBP may cede positions against major currencies due to the profit taking before the last minutes of the BoE.
Oil, gold and other raw materials and metals will probably remain under pressure from the strong dollar.
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