Forex has been relatively quiet. GDP numbers will come from the States today, and a vote will be held in Catalonia, Spain.
Limited Losses on Wall Street as Christmas Nears, Growth Numbers Today
Wall Street produced limited losses on Wednesday. However, U.S tax reform legislation was passed. The rather quiet trading in the States reflects the approaching holiday. Yes, investors had already positioned themselves for the tax reform passage, but the influence of lower volumes is because of Christmas nearing. Growth numbers will come from the States today. Tomorrow Core Durable Goods figures will be published.
Lightly Traded Asian Markets, Bank of Japan Talks Inflation
No surprises came from the Bank of Japan today as Governor Kuroda warned inflation remains too low. The Yen has essentially range traded against the U.S Dollar and is near 113.40. Most Asian equity markets have put in slight gains, except for the Nikkei Index which has seen fractional losses in lightly traded markets.
Cautious Equities in Across Europe, U.K Current Account Data Tomorrow
European equities have remained cautious this morning as political concerns have emerged in the U.K for Theresa May again, and a vote is underway in Catalonia, Spain. The fact that trading volumes are evaporating too has caused a rather lackluster equity session on European Indexes. Tomorrow the U.K will release its Current Account data and Germany will see a Consumer Climate report.
Gold Performing in a Polite Manner, Sudden Spikes Present a Danger
Gold has performed in a rather polite manner this week. It has extended its gains and is near 1267.00 U.S Dollars an ounce. However, because of the approaching Christmas holiday, traders need to be wary of sudden spikes, even as the precious metal seems to be attracting buyers.
Philly Fed Numbers Coming, U.S GDP Figures to be Published
Participating U.S investors will be able to react to the Gross Domestic Product data upon its release at 13:30 GMT.
- 13:30 PM GMT Canada, Core Retail Sales
- 13:30 PM GMT U.S., Final Gross Domestic Product
- 13:30 PM GMT U.S., Philly Fed Manufacturing Index
Yaron Mazor is a senior analyst at SuperTraderTV.
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