During the day on Monday, we get several announcements, quite a bit of them coming out of China. Manufacturing PMI numbers coming out will of course move the markets, just as nonmanufacturing PMI numbers will. With this, the market will be paying attention to what goes on in China, as to whether or not manufacturing is picking up in China which of course gives us an idea as to how the world economy is functioning.
That being said, it should also be noted that there are manufacturing PMI numbers are coming out of Italy, France, Spain, Germany, the EU, and the United States.
At the end of the day, it’s very likely that the US dollar will continue to be in focus, and with that being the case, we will have to pay attention to how the currency is moving. By looking at the US Dollar index, it can give you an insight as to which side of the US dollar you may be trading towards in the currency markets. At this point, the US dollar continues to be the safety currency in the Forex markets that will continue to attract trading.
Petroleum markets continue to look soft, and as a result it’s very likely the put buyers will be very confident going forward, and as a result one has to wonder whether or not rallies will offer put buying opportunities in a market that has obviously broken down over the last several weeks. Ultimately, this has been a theme for a while, and looks very likely to continue for some time.
European indices have shown strength recently, but may need to grind back and forth in order to continue the strength that we’ve seen. There is a lot of concern in the European Union, but with the shrinking value of the Euro it appears that a lot of traders are looking to exports markets to lift the indices.
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