BoE and Fed Impacting Broad Markets Today, Pound Falls after BoE Rate Hike

Japanese Consumer Confidence has improved. The Bank of England increased its interest rates but projected a slow economic growth. The White House will likely name Jerome Powell as their choice to be the next Federal Reserve Chairman.

White House Ready to Name Fed Leader, Non-Farm Jobs Data Tomorrow

The White House is expected to name Jerome Powell as its choice to be the next Federal Reserve Chairman today. The Fed’s Monetary Policy Statement yesterday provided no surprises but indicates an interest rate hike should be expected in December. Wall Street remains near record territory. Tomorrow the Non-Farm Employment Change data will be presented.

Japanese Consumer Confidence Improves, China Markets Cautious

Japanese Consumer Confidence data was better than anticipated this morning. Its result of 44.5 which much better than the expected result of 43.6. The Nikkei Index continued to gain, but the Shanghai Shenzhen composite has been more cautious. Important Services numbers will come from China tomorrow. Japan has a bank holiday on Friday.

The Bank of England Raise Rates as Expected, But Sees Lower Growth

All investors are prudent reacting to the Bank of England rate hike and economic outlook. Governor Mark Carney will begin speaking shortly and the Pound will react with a significant fall. Manufacturing results from Italy and Spain have shown an improvement this morning, but the Euro continues to range cautiously. The European currency will be influenced by the Bank of England’s outlook almost as much as the Pound today.

Violent Swings Continue in Gold, Fast Conditions Prevailing

Gold’s rather violent swings continue to test traders. The precious metal has come off early morning highs and is near 1275.00 U.S Dollars an ounce as fast conditions dominate. Traders need risk management tools in place the next few hours in the Gold market.

Carney Will Shake Markets, U.S. Jobs Numbers Continue Today

Investors will listen to Bank of England Governor Mark Carney’s outlook regarding monetary policy faithfully at 12:30 GMT.

• 12:30 PM GMT U.K., BoE Governor Carney Speaking
• 12:30 PM GMT U.S., Unemployment Claims
• 12:30 PM GMT U.S., Preliminary Non-Farm Productivity

Yaron Mazor is a senior analyst at SuperTraderTV.

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