Yahoo Finance Exploration of New Equity Highs in Asia, Pound Steady Before Autumn Statement
Asian equities have continued their exploration of new highs in early trading today. The U.K will release its Autumn Forecast Statement for growth and the Pound will be impacted. The U.S will publish Core Durable Goods Orders before shuttering for the Thanksgiving holiday which is tomorrow.
Bullish Buying Spree Continues, Trading Volumes Will Decrease Rapidly
Wall Street pushed ahead on Tuesday, and Existing Home Sale numbers beat their estimated results handily. Trading volumes will decrease rapidly today as investors begin to depart early for the Thanksgiving holiday which is tomorrow. However, Durable Goods Orders data will be published today and traders will get one more chance to join what appears to be bullish buying spree for U.S equities.
Asian Equities Creating New Highs, Nikkei Index Leading the Pack
Asian equities are setting highs and the Nikkei Index is leading the pack. The major Japanese equity exchange has gained over 5 percent the past month. Japan will be closed for a holiday tomorrow and traders should be alert for potential volatility from the Yen. On Friday manufacturing data will be released in Japan.
Growth Forecast from U.K Coming, Pound Will React to Treasury Report
The U.K Treasury will release its Autumn Forecast Statement and some analysts believe it will downgrade Britain’s growth estimate. The Pound has been calm the past day but will react to the publication of today’s report. The Footsie put in moderate gains yesterday but remains in negative territory over the past month of trading. A Consumer Confidence report will be released to the European Union later today.
U.S Crude Oil Inventories Data Today, Tests of Major Resistance Coming
U.S Crude Oil has seen a significant mid-term range and buying has re-emerged early this week. The commodity is near 58.00 U.S Dollars a barrel. Crude Oil Inventories data will come from the States today and traders may continue to be attracted to the energy as it tests major resistance.
Durable Goods Numbers from States, U.K’s Economic Outlook Report
The Core Durable Goods Orders data from the U.S will be looked at by traders when they are released at 12:30 GMT.
12:30 PM GMT U.K., Autumn Forecast Statement
13:30 PM GMT U.S., Core Durable Goods Orders
13:30 PM GMT U.S., Unemployment Claims
Yaron Mazor is a senior analyst at SuperTraderTV.
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This article was originally posted on FX Empire
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