American stock markets fell today, as European stock indices witnessed a significant decline due to fears of a second wave of the Coronavirus pandemic. This potential return to crisis levels of infection could delay the global economic recovery that has been anticipated – or hoped for – in second half of the year.
After last week’s lack of fundamentals and full of central banks events, another week comes with many economic releases and events, which likely to have a notable impact on the markets.
However, traders are advised to follow the political news, as the recent geopolitical tensions have been the main driver of the market, more than the economic releases.
This week the markets are looking at many important economic data that will have an impact on market movements. Below are the highlights of these events and data.
A week ago, the US Dollar Index completed one of its longest declining stake since 2002, posting six monthly declines in a row, which deepen the bearish outlook on the short and medium term.
In few hours, everyone will be watching two major events, including the European Central Bank decision, in addition to the ECB Chairman Mario Draghi Press Conference.
Today's events witnessed several important events and economic data that had a clear impact on market movements. At the top of these events, Bank of Canada's surprise decision to raise interest rates for the second time in a row this year to 1% in the wake of the previous meeting hike.
Financial markets are still cautiously following the North Korea's most powerful nuclear test at the end of last week amid news of its intention to launch another missile. US stock markets opened lower after closing yesterday to celebrate the Labor Day.
The markets are looking forward to a number of central bank meetings this week as well as some important economic data. The currency market today saw some price gaps as well as the decline of most of the global stocks with the opening of the week, after the North Korea's the most powerful nuclear test on Sunday undermined investors' risk appetite amid reports that Pyongyang was ready to launch another missile. While the US and Canadian markets closed due to the Labor Day.
We have a new trading week full of events and important economic data which may have a significant impact on the movements of the markets this week, and we will review the most important of this data:
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