A spreading geo-political calm will see investor attention turn to US corporate earnings for guidance over the coming sessions. However today’s trade could be driven by important data from China due mid-session.
Global markets moved back into sync in overnight trade. European shares moved down, and US indices rose, reflecting differing positioning at the end of last week. This neutral stance sees Asia Pacific futures markets very close to yesterday’s closing prices. Reads on China GDP, industrial production and retail sales could determine investors’ action. Forecasts point to a continuation of current growth rates.
Currency traders are gearing up after the US President tweeted that “Russia and China are playing the Currency Devaluation game”. While this is a long standing US political theme the spectre of interference in markets could see historically low levels of forex volatility take off. Any ructions in currency markets could damage investor sentiment.
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