Independence Day Suggests “Peaceful” Markets
4th of July – Markets Closed for Independence Day
U.S markets will be closed today due to Independence Day holiday. Monday turned in another mixed trading session. The NASDAQ proved incapable of sustaining positive traction and fell. On Wednesday the FED’s Meeting Minutes report will be published before traders lunch time, and on Friday the official jobless report will be brought forth. Markets are expected to range without significant price changes, however lower trading volumes could spark short term volatility.
Yen Weakened, Japanese Equities Trading Higher
Asian markets have proven cautious early today. While the main Japanese Indexes have been positively ranging, the Chinese market have seen moderate losses. The US Dollar Yen pair is trading above the 113.00 level, which serves as temporary support. Political tensions have developed again in Japan, with another North Korean missile test was announced. However, Japanese investors have shown maturity, eliminating geopolitical aspects from trading.
Disappointing Manufacturing Result from U.K.
European equities put in solid gains on Monday. The strong performances on the German ad UK main Indexes followed a rather cautious week of losses. The U.K. Manufacturing Purchasing Manager Index reports disappointed with an outcome of 54.3, as a result, the Pound Sterling traded lower the 1.29 key support level against the U.S Dollar is now in focus.
Yaron Mazor is a senior analyst at SuperTraderTV.
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This article was originally posted on FX Empire