Calm Openings a Reason for Relief in Markets, Global Stocks Rebound on Reports of US-China Trade Talk

All eyes will be on Wall Street following Friday’s steep losses. Forex has proven rather tranquil.

Global Investors Tough Short Term Road, Growth Numbers Being Anticipated

Asian markets have opened with losses this morning following in the footsteps of Wall Street’s sea of red on Friday. However, the selling in Asian equities has not been violent and stocks slightly rebound on reports of closed-door talks of US-China. Global investors have reasons to be concerned since late January equities have proven difficult to trade short term. A long-term perspective is likely the best medicine for investors at this juncture. Economic data will be very light today, but Wednesday’s Gross Domestic Product numbers from the U.S are being anticipated. And in a few hours, all eyes will turn to Wall Street, to see how the three major Indexes react after last week’s brutal price action and if calmer heads will prevail.

Forex Proves Tranquil, Yen Might be Considered Overvalued

Forex has been noteworthy, as it has provided traders with a rather tranquil landscape. The Euro and Pound have maintained their strong stances, but remain well within known ranges. The Pound is near 1.4160 and the Euro is around 1.2370 versus the U.S Dollar. The Yen has been strong and may be the currency of choice for speculators short term, because it may be considered overvalued as it trades below 105.00 juncture against the U.S Dollar.

Buying Frenzy in Gold Decreasing, Key Resistance in Sight

Gold proved a magnet before going into the weekend as nervous investors looked to the commodity for safety. The precious metal is around 1348.00 U.S Dollars an ounce. However, the buying frenzy which engulfed the commodity late last week appears to be decreasing, and Gold is approaching key resistance.

U.S Mortgage Banking Numbers & Fed Member Loretta Mester Speaking

The U.K will publish its High Street Lending data at 8:30 GMT and it could prove interesting.

• 8:30 AM GMT, U.K, High Street Lending
• 10:30 PM GMT, U.S, Fed Member Mester Speaking

Yaron Mazor is a senior analyst at SuperTraderTV.

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