Because of the hurricane hitting the U.S. the major stock exchanges per Wall Street will be closed today. So we will do something a bit different and list a variety of things you may find interesting.
1. The storm, just how long will it keep the major exchanges in the States from operating? Wednesday seems a likely bet.
2. The EUR without much in the way of volume has been edging lower based on an open disagreement between Italy and Spain about debt and going about protocols about asking for aid. Italy wants Spain to go first, while it appears Spain wants Italy to join them at the same time. Ramifications exist for the Sovereign Bond markets.
3. Oil (WTI) is trading near 85.00 USD per barrel. This is interesting considering a major hurricane is about to have an impact on the States and possible logistics entanglements. Where is the speculative element for Oil which is typical in a climate like this? Gold in the meantime is trading around 1712.00 as of this writing – also relatively calm.
4. JPY and KRW remain of interest. The Yen has picked up some value and the Won remains near one year highs regarding value. The JPY remains within the bounds of a consolidated dance and awaits a BoJ decision on monetary policy early on Tuesday.
5. Spanish Flash GDP numbers will come tomorrow, the Italians will offer a new 10-Y Bond auction, the Americans will see the CB Consumer Confidence reading.
6. Caution. Elections. Questionable data. Fence sitting. And the weather are all talking points. And volumes may remain low not only because a sizeable amount of the market is closed today and possibly tomorrow, but because many investors are waiting to see what unfolds regarding the ongoing European financial crisis and too – the elections that will be next week in the States.