Equity indexes crept up higher since the opening bell at the start of last week, although a grim jobs report on Friday quickly sparked a sell-off, with domestic equities broadly finishing in red territory for the week. The S&P 500 is now back below our outlined support at 1,200 and we advise stepping to the sidelines once again, although active traders can certainly take advantage of the ongoing volatility so long as they are prudent to take profits before they evaporate. Gold appears poised to continue higher as the precious metal has established definitive support above $1,800 an ounce, while uncertainty in the markets will only add to the appeal of the hot yellow metal.
Weekly Outlook
The coming week is quite lacking in major economic releases on the home front, while investors keeping an eye on international data will have more than a handful to talk about. The Euro zone is sure to be the center of attention as GDP data for the region is released early in the week, while an ECB rate decision is also expected on Thursday. The central banks of Australia, Canada, Japan, and United Kingdom are also releasing interest rate decisions this week, which is sure to contribute to some wild swings in the currency markets. Below, we highlight ETFs that may see an increase in trading activity as relevant market data is released and evaluated by investors:
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