Today the focus is on US-China trade talks, the Evergrande effect, and Eurozone investor sentiment.
The British Composite PMI for September will be released. Forecast: 54.1. If the data is below the prediction the GBP could see a negative push.
Assets to trade: GBP/USD, GBP/JPY, GBP/NZD
The US ISM Non-Manufacturing PMI for September will be reported. Forecast: 60.0. If the results are higher than expected the USD could receive a positive push.
Assets to trade: USD/MXN, USD/SGD, AUD/USD
US Trade Representative Katherine Tai on Monday will seek new talks with China over its failure to keep promises made in a “Phase 1” trade deal struck with former President Donald Trump, but will not pursue “Phase 2” negotiations over Beijing’s state subsidies and other structural issues. Affects S&P 500
Britain’s supply chains for everything from pork, petrol, and poultry to medicines and milk have been strained to breaking point by shortages of labor in the wake of the Brexit and COVID crises. Affects FTSE 100
Investor morale in the eurozone fell for the third month in a row in October and hit its lowest level since April on dimming economic expectations, a survey showed on Monday. Affects EUR
Asian shares dipped on Monday as concerns about Evergrande and China’s property sector and inflation worries offset upbeat US data and positive news on new drugs to fight the coronavirus. Affects Hang Seng
Oil was steady as OPEC and its allies meet on Monday to decide on output after a recent rally in prices reflecting recovering demand and supply disruptions. Affects Brent
The eurozone has seen investor morale drop along with the flagship currency. Anxieties about return restrictions and new variants of concern are high in the bloc.
The pair has shown a Bearish Engulfing pattern that became Three Outside Down showing the downtrends momentum.
The index has shown a Bearish Engulfing pattern indicating a continuation of the downtrend.
The pair has shown Bullish Engulfing pattern signalling an uptrend.