Summertime slumber

Dominic Picarda

It’s almost August and the stock market is taking a holiday. The last couple of sessions have been as dull as ditchwater in the DAX and FTSE, with the indices going sideways in a pretty narrow range. US GDP figures could conceivably spark some life into the markets today, as well as the Fed’s latest meeting. I have no particular insight into what’s going to happen with either of these, and am looking to do as little as possible pending a decisive break one way or the other. My gut-feeling is that’ll be upwards, but I shan’t be trading in advance of it.

My only fresh trade yesterday was an inconsequential buy in EURUSD, which I exited for a small profit.

Click here for the PDF of today's European Outlook.

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