FXstreet.com (Barcelona) - The Hurricane Sandy, potentially the the largest storm in history to hit the mainland of the United States, will force the US equity markets to close for the first time since the 9/11, being the first storm-related closure since 1985. It will be a disappointing start of the week for the financial markets ahead of an interesting week data-wise: BoJ monetary policy on Tuesday, China and US PMI on Thursday ahead of the main attraction, the US employment data on Friday.
The storm is likely to be the cause of very thin volume trading on Monday, and potentially on Tuesday in case the authorities decide to keep US markets closed until Wednesday. Risk sentiment is also threatened on account of Sandy, as investors identify some risks of a prolonged disruption to activity in the North-east, slowing the US economy. WTI crude oil is down (-0.67%), Gold is up (+0.02%), Asian equities closed down, European stocks follow the same path at lunch, and the US futures are too on the 'red'.
The storm is likely to be the cause of very thin volume trading on Monday, and potentially on Tuesday in case the authorities decide to keep US markets closed until Wednesday. Risk sentiment is also threatened on account of Sandy, as investors identify some risks of a prolonged disruption to activity in the North-east, slowing the US economy. WTI crude oil is down (-0.67%), Gold is up (+0.02%), Asian equities closed down, European stocks follow the same path at lunch, and the US futures are too on the 'red'.
