What drives the market on July 8?
The market takes breath after the long rally. What opportunities do traders have today?
Euro zone investor morale is steady, but expectations weaken
In August, investor sentiment in the euro zone was steady, backed by sturdy current conditions, though future expectations weakened amid ascending worries as for the American economy as well as the potential impact of a widening auto emissions scandal.
In July, the Frankfurt-based Sentix research group's euro zone index slumped from 28.3 points to 27.7 points, which is in line with the mid-range prediction of 27.8 in Reuters survey of financial experts.
However, in July, expectations went down from 19.8 points to 16.0 points, which is in line what the group dubbed a worrying indication.
Expectations are heading south around the globe, led by America, where they sank for a fifth straight time.
The index for Germany slid for a third consecutive month, diving from 37.5 to 33.2 the previous month, with hopes collapsing from 12.5 to 5.75 points in July amid ascending concern as for the emissions scandal, which impacts some big German car makers.
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The US labor market is in focus again
The United States will publish a weekly update on unemployment claims on July 9, at 15:30 MT time.
How to trade on July 7?
The market sentiment deteriorated amid increasing virus cases in the USA and Australia. Investors prefer safe-haven assets like gold, the US dollar and the Japanese yen.
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Risk-on is back. Market news and trade ideas on July 9
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
GOLD: the era of $1 800
Congratulations! Gold has just opened a new era... or, rather, reopened...
Canadian job data: an attractive release for trading
Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.
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