August 27, 2024 at 07:35AM
Equity futures are trading in the green across the board (apart from the ASX200 down around -0.20%)
Today looks like bit of a role-reversal day with the Nikkei (weakest in yesterday’s session) trading as the second strongest today, while the ASX200 which saw decent performance yesterday is today’s underperformer.
Catalysts have been very thin so far this week, and with a very quiet and mostly uninspiring economic calendar, we might be in store for more choppy price action this week. Not to mention the potential for month-end flows to create some possible dislocations as well.
With everyone so focused on US jobs data, there is a risk that equity markets trade in a bit of a holding pattern until we get to next week Friday, as markets might not want to add a ton of new risk until they get clarity on whether the Fed cuts rates at their normal pace or whether some more aggressive is required.
That sucks for risk event traders like myself, and means more patience might be required in the short-term.
This article was written by Arno V Venter at www.forexlive.com.
