Stock and Forex Market Overview Today

According to a quick review of the Economic Calendar, there is no major news that could tilt the market direction. However, we will have the German ZEW Economic Sentimental Index in the coming hours. The Index helps to inform how optimistic economists view and predict the German economy’s direction in the next six months. It implies that a higher ZEW Economic Sentimental Index will showcase a positive or bullish pressure for the EUR while a negative figure will have a bearish pressure for EUR.

Other news today will include the Canadian CPI-Trimmed-Mean YoY and the CPI Median YoY for the month of July. A higher report of the CPI Trimmed Mean YoY, and the CPI Median YoY will have a bullish indication for the CAD, while a lower figure will showcase a bearish pressure for the CAD. Without much happening in the fundamental forecast, it implies that the market will continue with its consolidation. However, paying attention to the Price Action parameters is important as they showcase a possible breakout during the Asian Session.