U.S. traders are dragging themselves to work for a holiday-shortened week, though they are likely to have increasingly urgent daydreams about Thursday’s coming gluttony and tryptophan-induced afternoon naps as the week goes on.
Comments from ECB chief Mario Draghi sent the euro down half a percent to less than $1.07 on Friday after two days of gains which dealers now put down to a trimming of trading positions by a handful of major investors.
After Monday’s big dollar-bullish move, the foreign exchange market has been relatively mixed over the last 48 hours, not coincidentally mirroring the uncertainty traders are feeling toward future Federal Reserve policy.
Italy, Lithuania, Austria and Spain risk breaking European Union rules with their 2016 budget plans, the European Commission said on Tuesday, as it took time to assess the fiscal impact of the refugee crisis in Europe and additional security expenses in France.
A six week winning streak in U.S. indices is on course to come to an abrupt end on Friday as this weeks’ commodity rout, likely combined with some profit taking in the absence of too much data, takes its toll.