U.S investors will be shadowed by political concerns regarding tax reform negotiations in Washington, as they return from their long holiday weekend. The
U.S investors will be shadowed by political concerns regarding tax reform negotiations in Washington, as they return from their long holiday weekend. The Euro remains strong against the U.S Dollar. Bank Stress Tests Results will come from the U.K tomorrow.
Investors returning from their long holiday weekend will be embraced quickly by concerns about Washington and its lack of a cohesive tax reform package. Politicians will enter an important crossroads mid-week and be expected to produce results, but doubts are growing about a comprehensive tax plan which investors will find beneficial. New Home Sales data will come from the States today, and Neel Kashkari will be speaking later.
The Yen has gained slightly against the U.S Dollar today, as the Nikkei Index has lost fractional ground. The Service Producer Price Index numbers published in Japan earlier came close to their forecasted result. Retail Sales numbers will come from Japan early Wednesday, and China manufacturing readings will follow late this week. The Yen is near 111.06 against the U.S Dollar.
It will be a quiet day from Europe. But tomorrow Bank Stress Tests results will come from the U.K, and Bank of England Governor Carney will address the outcome. German political news continues to develop regarding Angela Merkel, and investors are now expecting the Chancellor to retain power. A German Consumer Climate report will be issued tomorrow. The Euro remains strong against the U.S Dollar and over the 1.19 juncture.
Gold has held onto its value early this morning and made slight gains. The precious metal is near 1293.00 U.S Dollars an ounce. Speculative buying remains and is attracting traders who believe Gold will test important resistance near term.
Sales Data via U.S Homes, Minneapolis President Neel Kashkari Appearing
New Home Sales data will be released at 15:30 GMT in the States, and get the attention of traders returning after their long holiday break.
Yaron Mazor is a senior analyst at SuperTraderTV.
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Yaron has been involved with the capital markets since 1998. During the past 16 years, Yaron has been a day and swing stocks trader in the American market. Yaron has founded and made successful investments into businesses spanning exciting industries – from apparel to restaurants and bars, to high tech, medical technology, and education.