Monday proved to be another up-down day on Wall Street as major equity indexes failed to hold on to gains as the trading session drew to a close. News of China’s trade surplus widening more than expected last month was largely overshadowed by fiscal cliff woes at home, which will likely continue to plague investors’ confidence until policymakers present a concrete solution. Greek debt drama is also lurking; however, many are anticipating that policymakers will agree on another “band-aid” solution to avoid an outright default this week [see ETF Insider: Fiscal Cliff Woes Set Volatile Tone]. With no major economic data releases taking place on the homefront, investors will turn their attention overseas where GBP consumer price index data is slated to come out later today. As such, the Rydex CurrencyShares British Pound Sterling Trust is our ETF to watch because it may gap at the opening bell following the overnight reaction to [...] Click here to read the original article on ETFdb.com. Related Posts: 3 ETFs To Watch This Week: FXA, FXB, FXE ETF Insider: Uptrend Holds, Correction Pressures Build ETF Insider: Bears Are Lurking Tuesday’s ETF Chart To Watch: CurrencyShares British Pound Sterling Trust (FXB) ETF Insider: Set Your Stops And Targets Tight
Monday proved to be another up-down day on Wall Street as major equity indexes failed to hold on to gains as the trading session drew to a close. News of China’s trade surplus widening more than expected last month was largely overshadowed by fiscal cliff woes at home, which will likely continue to plague investors’ confidence until policymakers present a concrete solution. Greek debt drama is also lurking; however, many are anticipating that policymakers will agree on another “band-aid” solution to avoid an outright default this week [see ETF Insider: Fiscal Cliff Woes Set Volatile Tone]. With no major economic data releases taking place on the homefront, investors will turn their attention overseas where GBP consumer price index data is slated to come out later today. As such, the Rydex CurrencyShares British Pound Sterling Trust is our ETF to watch because it may gap at the opening bell following the overnight reaction to [...]
Click here to read the original article on ETFdb.com.
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