Market Snapshot – Stock Markets Correctly Slightly

Stock Markets Correct Lower

The stock markets have seen a dip so far since morning which may either be a sign of things to come or may be a reaction to the upmove that we saw in the markets on Friday. The traders and investors would be looking ahead to the meeting at Jackson Hole towards the end of the week and till that time, we can expect the markets to be subdued with a bearish bias and waiting for some direction from somewhere. Though a part of the market believes that a policy change is likely to be announced by Draghi, the majority of the market does not expect any shift in policy but unless and until that is known, we can safely expect some choppy action in the markets as we saw today. Today, we are seeing the Asian and the European markets on the backfoot since the morning.

Dollar and Euro the Focus

With no major economic news driving the markets for the day, we expect geopolitical news and headlines to drive the markets for today with the euro and the dollar being in the limelight for today. It has been a slow day so far but with the action picking up during the US session, as is customary on a Monday, we should see some interesting and volatile movements for the rest of the day.