The Sentix Investor Confidence Index
Well, last week the Euro dropped a lot, but today we just had an approximately 50 pip range, very slowly moving upwards. Sometimes, Mondays can be like this and price just stalls, without strong movement.
Of course, the slow movement today was caused also by the lack of data being released by the major economies of the world. In the days to come, it is possible to see more downward movement and some money being made buying puts.
The week opened with a small 10 pip gap that was quickly filled early in the morning. According to some statistics, gaps are filled 75% of the time so that alone can be a trading strategy.
This is not proven though so it would be wise to check for yourself and see if weekly opening gaps are filled.
The Sentix Investor Confidence index was released today for the Euro, at 9.30 GMT and the fact that it was lower was no surprise, given the latest Euro trends. Actual data: -29.6; previous -28.9 and forecast -26.3
The most important data for tomorrow is the NZIER Business Confidence index for the New Zealand Dollar, Trade balance for China and the Manufacturing Production data for the GBP.
ECOFIN Meetings are tomorrow as well and the markets could experience some movement depending on what is decided there or if something is decided.