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ECB Policy Meeting and Trump’s Trade War Announcement in Focus

Yaron Mazor

German Factory Orders produced a poor outcome this morning. There was solid inflation data from the States yesterday. And tomorrow the U.S Average Hourly Earnings figures will be posted.

Poor Data from Germany Raises Eyebrows, Outlook of ECB will Impact

German Factory Orders data released this morning came in significantly below expectations. The outcome on minus -3.9% will raise eyebrows, compared to the estimated result of only minus 1.9%. German Industrial Production and Trade Balance numbers will be released tomorrow. However, it is the upcoming European Central Bank Press Conference which is certain to stir the broad markets. The Euro has been weaker this morning and is trading below 1.24 against the U.S Dollar. The ECB is expected to be cautious today, but it is the prospects for mid-term changes in policy which will impact investor sentiment. European equities have been cautious today, which follows solid gains made in the Asian markets – with the Hang Seng Index of Hong Kong leading the way. China released very solid Trade Balance numbers earlier today. And the Yen has been slightly weaker the past day.

Wall Street Bounces off Lows, Cohen Resignation Handled Well by Investors

Wall Street reversed off lows on Wednesday and proved capable of creating a tranquil environment even as many feared renewed volatility. U.S investors digested the resignation of Gary Cohen from the White House relatively well. Solid inflation data was produced via the Revised Labor Costs statistics in the States yesterday, and today weekly unemployment claims will be posted. Tomorrow the Non-Farm Employment Change and Average Hourly Earnings figures will be released. The U.S Dollar has been fairly steady the past day in forex.

Gold Remains under Pressure, Retest of Lows a Possibility

Gold has remained under pressure the past day. The commodity is valued at 1325.00 U.S Dollars an ounce and it is pressed up against an important support. If downside pressure mounts for Gold it could see a retest of lows around 1315.00 Dollars.

Draghi Set to Impact Broad Markets, Natural Gas Storage Data from the U.S

The European Press Conference will get underway at 13:00 and impact trading.

  • 13:30 PM GMT E.U, ECB Press Conference
  • 13:30 PM GMT U.S, Unemployment Claims
  • 15:30 PM GMT U.S, Natural Gas Storage

Yaron Mazor is a senior analyst at SuperTraderTV.

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This article was originally posted on FX Empire