Risk and Sentiment as Main Theme

Fed & Risk Sentiment Coming

The FOMC Meeting Minutes will come out later today. Market participants returning from their holiday will look for cues regarding the Fed’s monetary policy. Market are expected to see an increase in trading volume and traders should expect some late fireworks as the main indexes gets tested early. US Jobless data will start tomorrow with the ADP Non-Farm Employment Change numbers, and on Friday the official Bureau of Labor Statistics Jobless data will be released. Risk sentiment is key feature in the market, at least until the end of week.

China’s Purchasing Managers Index Data to Miss Estimates

China’s Caixin Services PMI came in below expectations this morning. However, the Shanghai Shenzhen composite has gained. Asian markets have seen mixed trading early. The Nikkei225 have seen slight loses, and the Yen has been moderately stronger against its major counterparts. The 113.00 mark remains key support for the USD/JPY major currency pair.

Euro Post Loss but Remains Strong

The Euro lost some ground against the Dollar yesterday, but remains within the stronger realms of its value. European equities declined on Tuesday. The Dax 30 and FSTE100 have posted negative returns in June. Markit/CIPS Construction PMI results from the U.K came in slightly below expectations and the Pound Sterling lose some value. The 1.29 for the GBP/USD pair appears to be important support. The Services and Composite PMI reports will come from the U.K this morning.

Yaron Mazor is a senior analyst at SuperTraderTV.

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