Positive Business Outlook Spurring Gains in U.S, Bank of Canada Warns on NAFTA

Wall Street broke records again yesterday. The Bank of Canada raised its interest rate.

Bank of Canada Talks NAFTA, Optimism Reigns on Wall Street

Housing sector data will come from the U.S today via the Building Permits numbers. And the Philadelphia Fed’s manufacturing statistics will also be released. Wall Street achieved another record-breaking performance yesterday, as investors continue to embrace an optimistic outlook. The Bank of Canada raised its interest rate by a quarter of a point on Wednesday, but they did say concerns about the status of the Nafta trade agreement with the U.S remains problematic.

China Growth Numbers Prove Capable, Yen Losses Ground to U.S Dollar

Gross Domestic Product and Industrial Production data from China came in with better results this morning. The Shanghai Shenzhen composite has put in gains, while the Hang Seng Index has declined cautiously. Retail Sales data, however, did fall in China. The Yen has been weaker against the U.S Dollar and is near the 111.20 mark. Industrial Production figures from Japan came in slightly below their target.

Pound Remains Strong, Retail Sales Figures from U.K Tomorrow

European equities have been mixed early this morning, but buyers have produced gains on the Footsie. The Pound has remained strong against the U.S Dollar as Brexit rumors swirl. Retail Sales figures will come from the U.K tomorrow and Europe will release its Current Account statistics.

Crude Oil Stages a Rebound, U.S Supply Data for Crude Oil

Crude Oil staged a rebound yesterday as it climbed back above the 64.00 U.S Dollars a barrel level. Earlier in the week the U.S, Crude Oil lost ground, as resistance proved strong. Crude Oil supply data will come from the States and traders should expect range trading.

Philly Fed Numbers Coming, Housing Sectors Data via Building Permits

The Philly Fed Manufacturing Index from the States will create interest upon its release at 13:30 GMT.

• 13:30 PM GMT U.S, Building Permits

• 13:30 PM GMT U.S, Philly Fed Manufacturing Index

• 16:00 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

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