Attention on Central Bank Risk Events Growing, Global Stocks near Record Highs

Japanese equities continued their solid run today, even as manufacturing data missed its estimate. Europe has published better manufacturing results. Wall Street was cautious on Monday as investors have become distracted by President Trump. Tomorrow Core Durable Goods Orders numbers will come from the States.

Trump Providing Distractions, Tax Reform Package Getting Attention

Investors produced a rather tame day of trading on Wall Street with moderate losses. Manufacturing data will come from the U.S, but President Trump’s tax reform package and coming Fed leadership decision are providing the biggest amounts of impetus. Tomorrow Core Durable Goods Orders will come be released, which could prove important if a surprise result is seen.

Japanese Investors Remain Bullish, Yen Range Trading Past Day

There seems to be little that can stand in the way of the advance for Japanese equities. The Nikkei and Topix Indexes continued to put in gains today. Manufacturing data from Japan came in below its estimate today, but investors remain buyers. The Yen has range traded against the U.S Dollar and is near 113.60. Inflation data will come from Japan later this week.

Manufacturing Improves in Europe, Euro Stays Cautious Ahead of ECB

Flash Manufacturing and Services Purchasing Managers Index numbers have come from France and Germany. The manufacturing sector in both countries has shown improvement. The E.U has also turned in better manufacturing data. The Euro, however, has remained in a tight range as traders grow cautious before Thursday’s European Central Bank’s pronouncements. The Bank of England’s rate decision is next week.

Wicked Trading in Gold Continues, Volatile Consolidate Range in Gold

Gold continues to display a wicked range for short-term traders. The precious metal is near 1278.00 U.S Dollars an ounce after a slight sell off the past few hours. Volatility within a consolidated range has dominated Gold the past two weeks.

U.S. Manufacturing Data Today, Core Durable Goods Orders Tomorrow

The Fed’s Richmond Manufacturing Index survey will be published in the U.S at 14:00 GMT and get attention.

• 13:45 PM GMT U.S., Flash Manufacturing PMI
• 14:00 PM GMT U.S., Richmond Manufacturing Index

Yaron Mazor is a senior analyst at SuperTraderTV.

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