In the United States, investors are probably waiting to see the results of some company earnings before deciding on what to do with their long equity holdings. The second quarter reporting season has already started and will kick into a higher gear next week.
A Greek deal and a possible Iran deal is giving crude oil mixed signals. On one hand, it seems that a deal in Greece will allow the market to focus on the more positive data that has been coming out of the Eurozone.
Crude oil prices have been very volatile this week following its technical breakdown at the start of this month. Though prices have bounced back strongly, mirroring similar moves in the Chinese and European equity markets, they remain vulnerable nonetheless.