European Stocks Trade Sideways
Economic Moves: The economic calendar is loaded with important reports during the U.S. session. At 8:15 a.m. EDT investors will get the ADP Non-Farm Employment report. Investors might use the ADP numbers to gauge Friday's nonfarm payrolls report, which usually has a very strong effect in the global markets. The last three ADP reports came in worse than expected. At 08:30 a.m., the monthly Canadian gross domestic product report may show that the economy expanded 0.4% in July, the most in almost a year.
Crude oil for October delivery was recently trading at $67.40 a barrel, up 70 cents. Crude oil continues struggling to break above the $67.50 area, where it topped since the beginning of the week. A break above this level can only come on positive S&P futures and on a market able to sell the dollar. At 10:30 a.m., the market will get the crude oil inventories report.
Gold for October delivery was recently trading up by $7 to $1.001.50. Gold managed to break above the $1,000 area for the first time in almost a weak. The breakout came during the European session, as the precious metal gathered additional momentum.
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