China

If there was any confusion whether in addition to Moscow, Beijing was also behind Assad, today all doubts were laid to rest when both Russia and China called on all involved parties "to support the efforts of the OPCW and the United Nations in investigating the alleged use of chemical weapons in Syria," according to a joint statement by Russian and Chinese leaders on the current international situation posted on Kremlin website on Tuesday, following a meeting between Putin and China's president Xi Jinping.

With the US out on holiday for the 4th of July, overnight trading volumes have been muted, as Europe started off in the red but has since trimmed most losses (Stoxx 600 -0.1%) while S&P500 futures rose shaprly from session lows spurred by the European open ignoring the risk-off sentiment from North Korea's latest missile launch, trading 0.2% higher, or up 4 points to 2,429 and closing the gap to Monday's last minute tech-driven market selloff.

Gold Up 8% In First Half 2017; Builds On 8.5% Gain In 2016

Ahead of this week's G-20 summit in Hamburg, Germany, Donald Trump called the leaders of China and Japan to discuss the "threat posed by North Korea', along with trade issues, the White House said on Sunday.

S&P500 futures have started the second half solidly in the green, up 0.3% to 2,429, tracking European markets broadly in the green, while Asian stocks fell slightly and crude oil is little changed. With US markets set to close at 1pm today trading volumes in many markets remain light before Tuesday’s July 4th holiday and as investors await Friday’s report on the American jobs market. Traders will be looking at key upcoming economic data for validation of the hawkish shift from central banks that roiled markets last week.