As the world awaits the Sept. 11th decision by Congress on whether the U.S. will take military action against Syria, the broad markets essentially have reacted in a rather lackluster manner. For all the talk from the American media which is selling the possible attack as a possible ‘game changer‘ within the Middle East, the reality is that any action from President Obama is likely to be quite muted. This as he probably decides to beat a loud drum but back away from a major entanglement.

Japan was awarded the 2020 Summer Olympics over the weekend which created a well received reaction among the Japanese population. The JPY has traded in a fairly consolidated mode the last few sessions and has stayed within the realm of its weaker value. The EUR has also traded slightly lower against the USD and has not seen much in the way of volatility since early last week. The GBP meanwhile has done well and held onto its higher range.

The lackluster jobs numbers from the States perplexed many who were seemingly ready to launch a ‘great recovery’ parade down Main Street. The jobless statistics remain quite troubling as statistics continue to show many Americans simply opting out of the job market and many others who are ‘under employed‘ with low wages and part-time work.

Data has been scant today and will remain so. A Consumer Credit report will come from the U.S. shortly, Europe did have a better than expected Sentix Investor Confidence reading, and the U.K. will see the RICS House Price Balance marks in a few hours. However, none of these reports will shake investment postures. There will be data from China tonight (very early GMT Tuesday) including Industrial Production.

The broad markets are in the midst of regaining their equilibrium after a long summer slumber as investors return to their offices and shake the cobwebs from their finger tips and begin to access their financial portfolios.

Wall Street turned in a rather poor August and Friday’s Non-Farm Employment Change numbers will not help those who are trying to sell a ‘glass half full’ to the public. The Fed certainly will get into the act in just over a week regarding their monetary policy, but smart money has likely baked the results into the cake already with the notion that the Fed will politely say it has taken some tapering action and has the capability of adjusting its mandate depending on the way the U.S. economy ripens (or rots). While most investors seem to believe that the global economy has turned the corner and Europe has improved significantly, there are some among the crowd who are still whispering ‘be careful’. And Digital Markets Advisor is among them.