www.varchev.com

European markets in anticipation of the ECB

Early indications of European futures point to a flat opening, with hardly any changes. Cash flows are stagnant in anticipation of the ECB meeting, with minimal changes expected as market players position themselves. Wall Street trading in Asia and yesterday ended with strong growth with the continuing de-escalation of tensions between the US and China. Trump has delayed tariffs set for October 1 by 15, and China has responded by calling for more U.S. goods and tariff cuts. Despite the positive outcome, we expect the European markets to concentrate fully on the European Central Bank.

In the FX markets, we are also expecting a “calm before the storm”, although we still have plenty of other data in the economic calendar for today. Given the nature of the event today, we expect them to remain in the background, including the trade war.

In terms of resources, we expect cash flows to remain on hold as oil sank yesterday on news of easing Iran’s sanctions. Gold rose against the backdrop of falling bond yields, despite risk on sentiment yesterday. Today is also the OPEC meeting and we expect minimal impact on oil prices.

Crypto markets still remain so far removed from world events, lingering in a narrow range.


 Trader Martin Nikolov


Read more:
RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance