EUROPEAN SESSION
In the European session, we don’t have much on the agenda other than a couple of low tier releases like the French consumer confidence and Spanish retail sales. None of the data will change anything for the ECB, so the market reaction will be muted.
The price action seems to be driven more by hedging/deleveraging activity ahead of tomorrow’s FOMC decision rather than fresh Middle East news. If that’s the case and the ceasefire in the Middle East remains intact, we might see a reversal if the Fed delivers on expectations without surprising the markets.
AMERICAN SESSION
In the American session, the only highlight is the US Consumer Confidence which is expected to tick higher to 92.4 vs 91.2 prior. The data won’t change anything for the Fed, so the market reaction will likely be muted unless we see big deviations.
Traders will also keep an eye on Trump’s meeting with Netanyahu which is expected at 15:00 GMT/11:00 ET. Positive or negative remarks about Iran could be market moving.
This article was written by Giuseppe Dellamotta at investinglive.com.
