A new day of increased sales in Europe and the US. After the strong start of the session, panic once again seizes the markets and investors decide to stay away from risky assets … and also from hedgers, in fact, preferring to keep their cash and to watch the market movements in these strange low liquidity periods for stock trading.
I expect the Asian session to proceed in the same way and any upward movement caused by the lack of bad news will be questioned by the participants.
The economic calendar also does not help in any way. Production PMI data is not expected to have any impact on stock trading in the region, again a major topic of COVID-19 and its impact on individual economies.
The word recession is increasingly being mentioned, and this is not saying anything good, especially for the US, which has not yet reached the peak of the pandemic, and after jumping through it, a second wave of troubles sets in, a combination of bad quarterly reports, weak future forecasts and emerging rating agencies that are yet to assess business-level damage.
We monitor risky moods, with cash flows remaining a major barometer in another session marked by uncertainty.
00:00 Australia – Manufacturing PMI
02:30 Australia – Manufacturing PMI
07:00 Japan – Leading Index
Trader Aleksandar Kumanov