The most exciting market mover news will come from Europe this week. And that is only counting on the economic calendar schedule, which include. Retail Sales Aug which are expected to remain flat. The ECB Rate Decision which is also expected to be unchanged and the German Factory Orders which is expected to double.
Investor will be searching for European stocks that are undervalued, along with the currency pair Eur/Usd which has been performing up to expectations. The pair itself is looking well positioned and its next top could be around the 1.34.
Nevertheless, European indices are showing sign of exhaustion and might take a break before anymore bailout and financial crisis news return to the market.
The US financial market will come into live by the end of the week with jobless claim, unemployment situation, factory orders and the minutes of the FOMC Meeting.
It is going to be an interest week, with market as such levels and without an eminent direction, it will be really interested to see how it will turn out.
Gold for instance, might be heading up to new levels, sustainable or not remain to be seem, but economist are predicting that it would reach the 2000 mark, while the US dollar index remains resilient.