Today is the US holiday and at the same time what it’s called a BlueMonday – the most depressing day of the year. It started a bit that way on indices without a typical rocket fuel from Wall Street but while some Europen indices ended lower, German DE30 recovered towards the highs of the year, and is just shy of the all-time highs.
A lower shade is a signal that bulls want to try all-time highs. Source: xStation5
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Open account Try demo Download mobile app Download mobile appCalendar-wise it was a calm day with revised output in Japan or German PPI not impressing investors. It was also a fairly calm day on the FX market where EURUSD struggled and slid below 1.11 but overall moves were minor. USDZAR spiked in the morning over concerns regarding financing for state companies but recovered part of the losses.
Gold and silver edged higher but Oil was unable to hold on to morning gains that resulted from riots in Libya. NATGAS prices dipped to the lowest in almost 4 years on warm US winter and supply glut.
Calm start doesn’t need to translate into equally uneventful week as we have some key events ahead. Investors will be looking for clues from US earnings, ECB meeting and a series of flash PMIs. We will be reporting about these events in this section.
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