Bullish Market Sentiment Faces Big Data Tests
The U.S will begin to publish important jobs data today which will culminate with the Non-Farm Employment Change numbers on Friday. Services PMI data will come from Europe and the U.K today. Wall Street continued to break records yesterday.
Record Breaking Ability on Wall Street, Big Data Next Three Days from States
Wall Street kept up its record-breaking ability on Tuesday as the three major Indexes powered higher. Investors continue to show they have been able to brush off concerns about Washington politics and geo-political tensions. Risk appetite will continue to be tested as a Non-Manufacturing Purchasing Managers Index reading is issued today, along with the ADP Non-Farm Employment Change numbers. Tomorrow weekly Unemployment Claims will be released. The jobs parade will culminate with Friday’s always crucial official Non-Farm Employment Change results.
Six Percent Gain Past Month for Nikkei, Range Trading Expected for Yen
The Nikkei Index has made modest gains today as bullish behavior still stirs. The Nikkei has gained more than 6 percent of value this past month and needs to be given attention. The Yen has gained slightly against the U.S Dollar early today, but may see range trading emerge as the U.S jobs numbers data draws closer and is published on Friday.
Services PMI Data from Europe, ECB’s Monetary Policy Meeting Accounts
Services data will come from the European Union today, and tomorrow the ECB’s Monetary Policy Meeting Accounts will be published. The Euro has found some stability the past day after being pushed around by the U.S Dollar for nearly a week. The U.K will issue its Services PMI reading today, which follows Tuesday’s disappointing Construction statistics. European equities have put in gains early this week as the Euro and Pound have remained under pressure.
Slight Buying Early in Gold, Caution Expected as Data Shadow Looms
Gold has gained slightly this morning as it trades near 1275.00 U.S Dollars an ounce. Traders may become rather cautious with the precious metal as crucial American jobs numbers data shadows the horizon the next few days and volatility should be expected.
Services Data from U.K. and States, U.S. Weekly Jobs Numbers
The U.K’s Services Purchasing Managers Index will be published today at 8:30 GMT, and tomorrow’s weekly Unemployment Claims from the States at 12:30 will prove worthwhile to watch.
- Wednesday 8:30 AM GMT U.K., Services PMI
- Wednesday 14:00 AM GMT U.S., ISM Non-Manufacturing PMI
- Thursday 12:30 PM GMT Canada, Trade Balance
- Thursday 12:30 PM GMT U.S., Unemployment Claims
Yaron Mazor is a senior analyst at SuperTraderTV.
SuperTraderTV Academy is a leader in investing and stock trading education. Sign up for a class today to learn proven strategies on how to trade smarter.