Forex has remained rather range bound, but the Pound has been attracting attention as inflation data gets ready to be released tomorrow. Also, GDP numbers will come from China early on Tuesday.
The selloff on China Exchanges but Japan Steady, White House Remains Focus
The Shanghai Shenzhen and Hang Seng composites traded lower today, but Japanese equities have shown the ability to gain. While some analysts may say caution prevails because of the military action in Syria this weekend, it is likely investors are now looking ahead to other potential influences. Gross Domestic Product numbers will come from China early tomorrow and are certain to have an impact on Asian markets. European equities have been cautious, but traders are likely taking a wait and see approach regarding U.S markets. Future Markets are projecting gains for Wall Street upon its opening. Retail Sales numbers will come from the States, but the White House will stay in focus regarding geopolitical concerns and any talk regarding global trade.
Pound Ready for a Big Move Potentially, U.K Inflation Data Significance
The Pound has proven interesting the past week. While the Euro has languished near support, the British currency has shown an ability to remain within its strongest boundaries versus the U.S Dollar. But as inflation data approaches from the U.K tomorrow and Wednesday, the question is if the Pound can maintain its rather bold stance in forex? Options trading tracked via the Chicago Mercantile Exchange shows the Pound has been attracting a lot of attention, which signals a big move could be ready to happen in the near term.
Gold Fails to Break Resistance, Precious Metal Sinks as Sentiment Improves
Gold has come off early highs seen this morning. The precious metal is near 1342.00 U.S Dollars per ounce as risk sentiment has shown signs of life in the broad markets. Gold once again failed to break important resistance which abounds near the 1350.00 Dollars juncture. And speculators may seek more downside from the commodity near term.
Manufacturing Data from N.Y Fed Today, Consumer Insights from States
The U.S will release Core Retail Sales at 12:30 GMT and its results may have an impact.
- 12:30 PM GMT, U.S, Core Retail Sales
- 12:30 PM GMT, Empire State Manufacturing Index
Yaron Mazor is a senior analyst at SuperTraderTV.
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This article was originally posted on FX Empire
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