EUROPEAN SESSION
In the European session, we don’t have much on the agenda other than the Italian trade balance. The data is not going to change anything for the ECB, so the market reaction will be muted.
The price action will likely remain mostly rangebound as traders await the US CPI report, but we could also see some hedging into the release that could result in pullbacks across different markets.
AMERICAN SESSION
In the American session, we just get a couple of low-tier releases like the weekly US ADP employment change and the US existing home sales. The data won’t change anything for the Fed, so the market reaction will be muted.
It’s just going to be another day of waiting for the US CPI release and further US-Iran developments…
This article was written by Giuseppe Dellamotta at investinglive.com.
