All eyes will stay on US data in the week ahead but for today, there won’t be much to really get traders off their seats. After the big swings last week, we might due a breather today. But if anything else, do keep an eye out on the risk mood once again.
US stocks might’ve salvaged something at the end of last week but there were plenty of nervous moments, even after the non-farm payrolls. That said, I would argue tech shares are still on the ropes though as indicated by the chart below:
Nasdaq Composite index daily chart
And with US futures lower to start the day, it will start to poke at the nerves once more ahead of the Wall Street open.
As for European trading itself, there won’t be too much to really get traders to turn off that snooze button in the hours ahead. It’s a light agenda as we await key US data later in the week to formulate a better outlook on the Fed’s communique going into the FOMC meeting next week.
0700 GMT – Germany January industrial production
0700 GMT – Germany January trade balance data
0900 GMT – SNB total sight deposits w.e. 7 March
0930 GMT – Eurozone March Sentix investor confidence
That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.
