Yawn. So the NASDAQ decided to go on a holiday for 3 hours Thursday. So the FOMC Meeting Minutes basically told us nothing new on Wednesday. So volume has fallen off a cliff. So equities are struggling. But the markets move on. The sun continues to come up and next Monday will begin the last trading week of August and September will be upon us. And different realities may begin to prevail.

The Single Currency and Sterling have both traded in place – meaning they have not exploded with any drama since Wednesday night’s release from the Fed that has left interpretations open as to when the tapering of the current QE program will come to an end. September or December? Digital Markets Advisor tends to think we will see a slight cut in purchasing announced in a few weeks time by the Fed and the window left open for other critters to crawl in and mess up the room again. Meaning that the Fed will stay in a grey area, meaning that traders who are counting on the earth to shatter in half with a significant proclamation will be disappointed. Meaning that ranges will continue to be tested and businesses and consumers will be the real driver of the global economy and not white knights sitting in ivory towers.

So while investors and financial houses remain onlookers from afar as they relax while on summer holidays, while day traders try to take advantage of known ranges that have been rather tranquil, and while the NASDAQ proves that so-called technologically advanced indexes are not immune from stupidity, the broad markets work and remain an avenue to participate in the world as we know it. Meaning that for those seeking to safe guard their money or speculate on their future the door is open to a wide variety of alternatives depending on individual perspectives and biases.

GDP marks from Germany earlier today met expectations. GDP figures from the U.K. came in slightly better than estimated. Both the EUR and GBP traded slightly lower in early morning trading but have picked themselves off of support levels and have shown some gains the past few hours. Ranges as mentioned above remain known and going into the weekend few surprises should be in store, unless another major stock index from the States decides to take a slumber yet again today that is.

Gold has done well the past couple of days and it should be noted that since June’s declines to new lows that the precious metal has shown an ability to shine once again. Gold has climbed nearly two hundred USD since those June lows. The precious metal is close to 1376.00 as of this writing.

Also worthy of note today is the performance of the JPY this week which has displayed a broad range. Having gotten stronger in early trading this week, the JPY has now weakened and shown the ability to not go on a one way death march. The Japanese economy still has many question marks surrounding it (like all major economies), but the ability of the JPY to move back towards weaker values is a sign of health considering that Japan does not want a JPY that is too strong.

While the week has been relatively quiet for data, news has been rather interesting if not disturbing. Egypt continues to have public unrest, but as of now the Suez Canal remains secure and this is important for the movement of containers and cargo vessels that handle trade from Europe and Asia. And from Europe, the German elections are approaching and with that some politicians are trying to make a name for themselves as they speculate on when Germany will be called upon to help secure Greece’s economic future once again. But as we said, this is August, folks are relaxing and September’s realities to come are merely a murmur.