Another light calendar day beckons in Europe
The market is certainly in a better mood so far today but are we just seeing a bit of calm before the next storm? That is perhaps the case, especially if we don't see any concrete response by the PBOC or Chinese officials to alleviate the pressure tomorrow.
The market is finding some reprieve after the fear and anxiety brought about yesterday but that is not to say that things may not turn ugly again later in the week.
The spotlight this week was supposed to be on the FOMC meeting tomorrow but instead, China has stolen the show and the market has to keep a keen focus on that now.
The response by China come tomorrow may arguably be more important than the Fed's decision as the former can be said to set the tone for the latter perhaps.
0600 GMT - Switzerland August trade balance data
Prior release can be found here. A read on trade conditions in the Swiss economy, which have picked back up rather well since the depths of the pandemic as a whole.
1000 GMT - UK September CBI trends total orders
Prior release can be found here. The CBI readings are a survey on manufacturers to rate the level of volume for orders expected during the next 3 months.
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.
