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.
Bulls Remain, Ready Buyers, U.S. Dollar Stays Strong in Forex
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.
Tankan Manufacturing Improvement, Yen Shows Signs of Weakness
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.
Euro Reacts to Chaos from Spain, German Manufacturing Data Today
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.
Chinese Holiday Could Influence Gold, Pressure Remains on Gold
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.
- 8:30 AM GMT U.K., Manufacturing PMI
- 14:00 PM GMT U.S., ISM Manufacturing PMI
- 18:00 PM GMT U.S., Federal Reserve Member Kaplan Speaking
Yaron Mazor is a senior analyst at SuperTraderTV.
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