The stock exchanges are facing a possibly groundbreaking week for the trends of the coming months. The players in the markets have to mentally reorganize themselves – especially in a bullish direction. The latest economic data has shown that investors’ fears on the downside were overblown. From the international purchasing manager indices to the German Ifo business climate index, the economic barometers showed a better situation and a more confident outlook than feared.
“Armageddon was priced in, but didn’t come,” commented one trader on the data. And the falling prices for oil and other types of energy also point to an easing on the energy front.
In terms of data, however, the tide is low today. the ECB waiting with data for Money supply M3 up for October. From the USA come Dallas FED manufacturing data in November. Corporate-wise, nothing is on the radar. Earnings season is almost over.
