The North Korea missile launch, the Texas flooding, and nervous traders are making the news. The Euro has gotten stronger this morning and Gold has added value. The CB Consumer Confidence numbers will come from the States today.
Nervous Sentiment Central Theme, U.S. Dollar Remains Weak
American investors produced tentative trading on Wall Street on Monday, and nervous sentiment may continue to be the central theme today. The U.S Dollar has remained weak. A Consumer Confidence reading will be released today and tomorrow Gross Domestic Product results will be issued. The flooding caused by tropical storm Harvey has not been quantified yet regarding its damage and could factor into U.S trading today. Investors are fully aware that the monthly jobs numbers will be published on Friday.
Risk Adverse Trading Prevails Nikkei Suffers Losses
The North Korean launch of a missile this morning rattled Asian traders, who promptly took the major equity indexes of Asia lower. The Nikkei’s losses were cautious today, but amount to a nearly a 3 percent decline the past month. The Yen has gotten stronger as investors have become increasingly risk averse and is near 108.40 against the U.S Dollar. Retail Sales figures will be published early Wednesday in Japan.
Euro Racing Upwards, U.K. Housing Data Negative
The Euro has continued to race higher against the U.S Dollar this morning and has broken above the 1.20 resistance level. French Gross Domestic Product numbers met their expectations, and the Nationwide Home Price Index results from the U.K have come in with a negative result. The Pound has been strong also against the U.S Dollar, but the Euro’s surge is grabbing the attention of traders. European equities have been negative and the Dax Index has led decliners.
Gold Screaming to New Highs, Fast Conditions Dominating
Gold has screamed to new highs over the past day and its momentum remains strong early this morning as safe haven traders have added fuel to the buying of the precious metal. Gold is above 1325.00 U.S Dollars an ounce with fast conditions dominating.
Housing Prices Data from States, U.S. Spending Numbers Coming
The Conference Board’s Consumer Confidence number from the States could prove important for traders upon its release at 14:00 GMT.
13:00 PM GMT U.S., S&P/CS Composite-20 HPI
14:00 PM GMT U.S., CB Consumer Confidence
Yaron Mazor is a senior analyst at SuperTraderTV.
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