In case you missed the big news over the weekend in the US:
I love him and I hate him. It is not reasonable to want another person dead. Trump got a little cut on his ear because of his bad luck, but we could have had a different headline this morning.
So how are the markets reacting to this, if at all? Well, first, the betting markets are now seeing a rise in the odds that he will be re-elected. It’s an emotional reaction to the event, of course. But the odds of him being defeated were already high anyway if he were to run in the November election.
In the major markets, I can’t say that the impact was very pronounced. The dollar rose a bit at the beginning of the day, but this is nothing out of the ordinary. The dollar is looking for a foothold after the losses it suffered last week. The USD/JPY pair remains in focus after the Japanese intervention, as the pair is now approaching the 158.00 level.
In stocks, S&P 500 futures rose 0.2% as stocks continued to rally. Wall Street retreated late Friday but ended the day higher. Major indexes will be looking to post a third straight week of gains.
Looking ahead to the session ahead, there will be little to no hype in the markets. There will be only a few light releases as traders and investors look to settle into the swing of things, following a slew of major sporting events over the weekend.
0630 GMT – Swiss Producer and Import Prices for June
0800 GMT – Total deposits at the Swiss National Bank on July 12
0900 GMT – Eurozone Industrial Production for May
In addition, there is the third full China meeting and the Eurogroup meeting today to discuss financial issues. This last meeting may be worth watching, especially after the French elections.
That’s all for the upcoming session. I wish you all a great day ahead and good luck with your trading! Stay safe out there.
4 – Spain’s win over England in the final gave them a record fourth European Championship title. They won the title in 1964, 2008 and 2012. They won’t be returning home.
