EUROPEAN SESSION
In the European session, we just have the Eurozone Sentix investor confidence index which is expected at -0.5 vs -3.1 in the prior month. This is never a market-moving release and it won’t change anything for the ECB.
The price action will likely rangebound, with traders waiting for the US CPI report and further Middle East developments.
AMERICAN SESSION
In the American session, we don’t have anything on the agenda. The US NFP report brought down the probabilities for a September hike to 48% vs 54% before the data release.
The data was soft but not as soft as the headline figure suggested as it was distorted by huge drop in government jobs. Overall, the labour market remains on a better trajectory than in the past three years.
The US CPI report on Wednesday will likely decide whether we get a September hike or not…
This article was written by Giuseppe Dellamotta at investinglive.com.
