Yahoo Finance German Elections and Mario Draghi in Spotlight Today
The German Federal Election produced another victory by Angela Merkel on Sunday. ECB President Mario Draghi will be speaking today. Tomorrow the CB Consumer Confidence report will come from the States.
High Wire Act on Wall Street, Consumer Confidence Report Tomorrow
Wall Street went into the weekend maintaining its high-wire display. The three major Indexes were flat on Friday, but investors have not staged any major retreats on the Dow Jones, S&P or NASDAQ after putting in gains the past two weeks. Economic data will be light from the U.S, but two speeches from Federal Reserve members will be given during the day. Tomorrow a Consumer Confidence reading will come from the States.
Lackluster Japanese Manufacturing Data, Chinese Equities Cautious
Japanese equities have continued to prove strong in early trading this morning. The Yen remains weak against the U.S Dollar. And a Manufacturing Purchasing Managers Index number from Japan has come in below expectations. The Shanghai Shenzhen Index has seen cautious selling but remains in positive territory per its results the past month. Japan will release its Monetary Policy Meeting Minutes early on Tuesday which could prove interesting.
Merkel Now Needs a Coalition, Business Climate Data from Germany
The German Federal Election delivered results which were largely anticipated by anticipated by investors. Angela Merkel has won another term as Chancellor and now needs to form a working coalition, which could take some time. German Business Climate data will be released this morning. And European equities have opened cautiously, as the Euro and Pound trade in range against the U.S Dollar.
Yellen & Draghi Creating Chill for Gold, Muted Inflation Causing Headwinds
Gold has continued to decline and is now lurking near the 1290.00 U.S Dollars an ounce level. The precious metal may be reacting to recent comments by global central bankers Janet Yellen and Mario Draghi that inflation remains muted.
Draghi Comments Coming, Neel Kashkari Speaking Later Today
Investors will pay attention to European Central Bank President’s Draghi’s speech at 13:00 GMT in Brussels.
8:00 AM GMT Germany, Ifo Business Climate
13:00 PM GMT E.U., ECB President Draghi Speaking
22:30 PM GMT U.S., Federal Reserve Member Kashkari Speaking
Yaron Mazor is a senior analyst at SuperTraderTV.
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This article was originally posted on FX Empire
