Daily Market Review 2 of August
Markets are at a halt, as main U.S equities finished with no or minor changes compared to the previous days.

The U.S Fed meeting and its related press release have not given a clue for a much anticipated third QE. Today and tomorrow key financial data is expected to set the market direction: E.U statement regarding monitory easing and bailouts and the U.S NFP – a major unemployment indicator and the Feds statements expected today.

11:00 U.K BOE rate announcement
11:45 E.U rate announcement
12:30 ECB news conference

Technical’s

Euro – the euro is testing its long term resistance of 1.237.  Short term selling for expiries of up to an hour, on these levels, are recommended.