Those hoping that the start of a new trading week could jump start flatlined risk trends were left disappointed through Monday's close. The shallow market depth behind the currencies and other risk-sensitive assets is an affliction that requires a heavy fundamental shove to revive, and anything short of crisis or stimulus may not be up to the task. In the meantime, a lack of conviction in general sentiment trends does not mean short-term volatility swings are out of the question. The Euro will be a particularly at-risk currency over the coming 24 hours with an update of first 2Q growth readings for the most steady (Germany and France) and most troubled (Portugal). With an additional regional investor sentiment survey and Germany bond auction, there is plenty there for traders to work with.
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