The FOMC Meeting Minutes offered no real surprises yesterday. The stance of the Federal Reserve remains largely dovish. The EUR remains in a fairly steady short-term range. Gold as of this morning has traded slightly higher and the precious metal as of this writing is near 1329.00.

China Trade Balance numbers were published much earlier this morning and were very negative. The number clearly missed its expectation and will throw some fuel on fire for doubters of the Chinese economy. Japanese Consumer Confidence beat its estimate this morning, but certainly not be a great margin.

The USD remains on the weaker side of its range versus the other major currencies. The EUR, GBP, and JPY all continue to find takers. The question for traders is about sentiment and mixing that with short-term trading opportunities.

French Industrial Production numbers released this morning also were quite negative, highlighting that Europe’s overall economic conditions are not healthy.

The U.S. will publish weekly Unemployment Claims today and hold a 30 year Bond Auction.

Opportunities in the broad markets for traders remain all about risk management and choosing short-term trends. Equities have been cautious to nervous on the major bourses the past couple of days. And while achieving great heights, Wall Street remains a ‘false idol’ of sorts for traders who have not been part of its bull run. The problem is that traders could be tempted to swim the waters of major indexes like the Dow Jones Industrials or S&P and find the tides treacherous this summer if they are not careful.