Nasdaq continues to trade sideways remaining inside a narrow trading range (2760 support and 2780 resistance) ahead of this weekend G20 meeting in Moscow. It should remains inside the range until investors can get more clarity as to the direction of the state of the current currency wars situation.
Investors are watching for any comments from the Group of 20 leading nations on Japan’s recent aggressive monetary easing amid growing tension over currency rates. Currencies are expected to be discussed at the G20 meeting, after Russia’s finance minister said G20 nations should take a stronger stance against currency manipulation.
