After an uplifting last week that ended better than expected; what can be expected for this week?
Is going to be a busy week, with a tight schedule for traders to keep up with this week financial and economical reporting.
Already China trade balance for the last month is taking over the head lines. China’s exports has grown less than forecasted and imports fell in August. The news is a step backwards for the global recovery; adding fears that without a strong Chinese economy, there will be no recovery, at least for a while.
Tomorrow, USA International Trade will be in the spot light, with an expected deficit of around $40 bn. As far as the figure is close to the target, markets should react positively to it.
Japan will be releasing its machinery orders for the previous month of August, which could be the major announcement for the Asian market overnight. A drop of around -6% is expected. Anything better will be received gladly.
Europe will be back into action once again on Wednesday with the industrial production report. And the ECB also publishes its September monthly report. Investor will be looking for an update on developments in Greece and Spain.
Friday will be another busy day with news from USA and Europe.
In general, the market could be mixed this week with up and downs, that is the prediction.