Markets have continued in their slightly positive sentiment, ignoring the negative NFP data published last Friday, ending positive in a very volatile session. Positive sentiment is backed up by market expectation for an E.U bond perchance by the ECB.
Key market data to watch for this week.
11:45 Troika visits Greece.
19:00 U.S - Consumer credit change.
8:30 U.K - Trade balance and Goods trade balance.
12:15 Canada – Housing starts.
12:30 U.S – Trade balance (July)
6:00 E.U – CPI
8:30 U.K – Claimant count rate and change (AUG)
Unknown time – E.U – constitutional court expected to give its preliminary ruling on ESM and fiscal Government debt.
22:30 New Zealand – RBNZ interest rate decision.
7:30 Swiss – SNB interest rate decision.
8:00 E.U – ECB monthly report.
16:30 U.S – Fed interest rate decision.
18:15 U.S – Fed monetary policy statement.
09:00 E.U – Core CPI.
12:30 U.S CPI (Aug)
12:30 U.S – Retail sales.
13:55 U.S Michigan consumer sentiment.
Short term, resistance at 1.282, a break of this level will signal a move to 1.298. Short term selling at this level is recommended. Support at 1.263