A fresh start after Labor Day
![]( "A fresh start after Labor Day")
The beginning of this week witnessed the Labor Day which suggests itself on the first Monday of September; the first Labor Day took place on the fifth of September 1882 A.D for the United States of America in New York after the famous Pullman Strike.
Kicking off the week after Labor's day with a very calm Tuesday as no data or news are on today's economic calendar awaited for release, while Future Stock Indices drop prior to the market opening as the market shaper is still unidentified.
The drop in future indices is somewhat serious as the Dow Jones Industrial Average falling 0.5% to reach 10387 points, the Standard & Poor's 500 dropped 0.6% to reach 1096.7 points, and the NSADAQ 100 fell the less by 0.4% to reach 1859.25 points. (Data as of 11:04 London)
The US economy is boycotting investors regarding to data and figures today while markets are expected to witness high volatility, and deals are expected to head mainly to low yielding assets such as Gold and USD after fears concerning the European Debt crisis resurfaced in such a calm day after the announcement that the biggest 10 banks in Germany need to raise more capital totaling €105 Billion, as of this moment we see the USD advancing versus the Euro which is considered a confidence gauge for the Europeans.
In conclusion, we expect the Dollar index which measures the USD's performance versus six major currencies to rise while prices of basic commodities and addition to stocks to fall and that is exactly what is happening in the current time being; Gold price fell from $1249.20 to reach $1245.90 while oil dropped by $1.02 reaching $72.99.