Yahoo Finance Markets Turning Positive as Sentiment Shifts
Inflation data will come from the U.K and Europe today via the CPI and the U.S Dollar remains weak.
Wall Street Gains Build Momentum, China Hits U.S with Commodities Tariff
Wall Street produced solid gains on Tuesday, and the three major Indexes are starting to build better momentum as investors appear ready to take on risk. Asia equity markets have performed well today and the Nikkei Index has risen. Japanese Prime Minister Abe is meeting with President Trump in Florida today. And investors will watch carefully, as the two leaders speak about trade agreements. China did levy a hefty tariff on some U.S commodities yesterday, as tug of war tactics play out regarding trade negotiations. Housing sector and Industrial data from the U.S was strong yesterday, but it will be a relatively quiet day of figures today from the States – with only the Crude Oil Inventories on the calendar. The Bank of Canada will release its interest rate decision but no change is expected.
Pound & Euro Intriguingly High, Federal Reserve Remains on Hawkish Path
Europe and the U.K will release important Consumer Price Index figures this morning. Yesterday’s data from the U.K showed inflation was slightly below expectations. And German Economic Sentiment proved alarming with a negative result. However, the Pound and Euro remained relatively strong. U.S Dollar weakness remains intriguing because the Federal Reserve is still on a more hawkish interest rate path than its major central bank counterparts. The Pound and Euro are approaching important resistance levels, but have not seen harsh reversals.
U.S Dollar Weakness Helping Gold, Precious Metal Appears Comfortable
Gold has proved capable of holding its value as it trades near 1345.00 U.S Dollars an ounce. The commodity may have plenty of resistance within sight, but it looks comfortable within its range. U.S Dollar weakness is certainly helping Gold for the moment.
European and British Consumer Inflation, U.S Crude Oil Supply Data
The Consumer Price Index data from the U.K at 8:30 GMT will be of interest to investors.
8:30 AM GMT, U.K, Consumer Price Index
9:00 AM GMT, E.U, Final Consumer Price Index
14:30 PM GMT, U.S, Crude Oil Inventories
Yaron Mazor is a senior analyst at SuperTraderTV.
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This article was originally posted on FX Empire
