The referendum in Catalonia, Spain will be a talking point among investors today. U.S Indexes remained bullish before going into the weekend and the U.S
The referendum in Catalonia, Spain will be a talking point among investors today. U.S Indexes remained bullish before going into the weekend and the U.S Dollar is strong. China is on holiday. Manufacturing PMI reports will be published widely today.
Wall Street’s gains before going into the weekend may have bullish investors ready for additional buying this week. The slightly better growth numbers from the U.S late last week were encouraging. The U.S Dollar has remained strong. Today a Manufacturing Purchasing Managers Index outcome will be issued, and Dallas Federal Reserve President Robert Kaplan will be speaking later.
The Nikkei Index has continued to add value in early trading this morning. The Tankan Manufacturing Index produced a solid result of 22 compared to its estimate of 18. The Yen is trading under 113.00 against the U.S Dollar, but continues to show signs of weakness. China is on holiday this week.
The referendum in Catalonia, Spain will not be well received by investors who will react nervously regarding the way the vote was handled by the government and the chaos it produced. The Euro has been under early pressure this morning. Germany and France will release manufacturing data today. And the U.K will release a Manufacturing PMI report also.
Gold has remained under pressure this morning. The precious metal has lost value steadily the past week and is near 1270.00 U.S Dollars an ounce. The strong equity markets and the U.S Dollars re-emergence have factored into recent weakness. China’s holiday this week could be an influence too if trading volume decreases.
Manufacturing PMI Data Coming, Dallas Fed President Speaking
The Manufacturing Purchasing Managers Index from the U.K will be watched by traders at 8:30 GMT.
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.