Big Data and Big Speculation will set the Tone for the Week

Global markets will be watched closely today to see if a speculative sentiment is able to find momentum. The U.S will issue its Core Durable Goods Orders numbers and tomorrow Chairwoman Janet Yellen will be speaking.

Important U.S. Data on the Calendar

The Core Durable Goods Orders statistics will be released today from the States. The data could prove to offer important insight before Thursday’s Gross Domestic Product results are published. Wall Street produced rather cautious trading all of last week, but the NASDAQ did find buyers – after some downside momentum the week before. All three major Indexes remain within record territory. The important economic data coming from the U.S this week will have an impact, and tomorrow Fed Chairwoman Janet Yellen will make a speech in London. Investors will also keep their eyes on Washington, which is still seeing political fires burn but with perhaps less influence. And trading this week is likely to become more speculative in the U.S in the coming days because of the critical data and talking points from central bank leaders.

China Equities Rising in Solid Fashion

The Shanghai Shenzhen composite has put in strong gains early today and most Asian exchanges have also produced positive trading. The Shanghai Shenzhen Index has gained more than 5% the past month as a speculative flair exhibits itself. The Nikkei and Topix have put in more moderate gains this morning, and the Yen continues to range trade against the U.S Dollar. Important economic data will come from China and Japan later this week with manufacturing and inflation numbers.

European Central Bank Forum

European equities closed last week on a cautious note. However the Euro and Pound have both produced gains against the U.S Dollar recently. An important German indicator will be released this morning via a Business Climate reading. The Euro continues to traverse near the 1.12 level against the U.S Dollar. The European Central Bank will be conducting an important forum for global central bank leaders beginning tomorrow. Traders should expect a constant stream of news from the event. The European Union and U.K will continue their Brexit talks this week also, and its developments will also cause a reaction among investors.

Crude Oil Higher in Early Trading   

Crude Oil has weathered a tough short term storm. The 43.00 U.S Dollars a barrel level has held and the commodity has seen some early buying today. Speculators may be tempted to look for a continued reversal upwards following Crude Oil’s ugly fall the past couple of weeks. However, supply concerns do remain and the commodity will continue to be pelted with doubts as over production concerns are heard.

Yaron Mazor is a senior analyst at SuperTraderTV.

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