The data out of Europe and the UK today was certainly painting an ugly picture, with a full set of data missing across the board.
We see both Growth and Inflation falling at the same time in Germany: the German economy now faces a disinflationary economic regime.
Based on historical data, this usually is a negative sentiment for both the EUR and DAX.
Tip from our analyst: Keep you eyes peeled for some short selling opportunities based on the fundamental analysis.
Equities have been softer today with the mood moving out of risk bonds, and gold has been the benefactors with JPY still unable to finding a bid.
The DXY continues to flirt with 103 after rejecting the key 102 support level.
As for the PMI out of the US, data didn't disappoint like the Eurozone and UK.
Manufacturing missed coming in a 46.3 (contraction) and Services beating expectations slightly and still showing growth at 54.1.
We can potentially look forward to some good trading opportunities next week, especially with a fade of the recent Gold rally looking interesting, having seen last months 's been broken.
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