In early Monday morning trading Gold is ranging around 1469.00 USD. The EUR has remained near its higher values although it lost some momentum before going into the weekend. The Single Currency should be a focus all week with the ECB monetary policy meeting taking place this Thursday. There is an Italian 10-Y Bond Auction still scheduled for this morning. Over the weekend the new Italian government was sworn in under tense circumstances.
It will be a big week of data and central bank dominated news. Today the States will release Pending Home Sales and tomorrow the CB Consumer Confidence reading will be brought forth. Wednesday the FOMC Statement will be published. And to top off the week to come Non-Farm Employment Change numbers will be presented on Friday. Traders looking for short-term opportunities will have plenty of tidal shifts to navigate.
Wall Street and the other global bourses became mostly cautious before going into the weekend. The GDP numbers from the U.S. proved disappointing and continue to highlight that not all is wine and roses for the American economy. Tomorrow’s CB Consumer Confidence index may serve to underscore investor sentiment. It should also be noted that many European markets will be closed this Wednesday for the May 1st holiday.