Choppy Conditions Dominate Trading, Global Stocks Rise ahead of US Inflation Report

Important Core CPI and Retail Sales data will come from the States today. The Yen is strong and near 15-month highs, while the Nikkei Index has continued to struggle.

Strong Yen at 15 Month Highs, Nikkei Index Continues to Struggle

The Yen has powered early this morning to fifteen-month highs versus the U.S Dollar as Japanese investors continue to be risk-averse. The Nikkei Index has also remained stubbornly on a downslope and has lost more than 11% of value in the past month. The Yen is approaching the 107.00 level, and yesterday’s reemergence of weakness in the U.S Dollar against other major currencies has not gone unnoticed. The Euro and Pound have also gained. Japan did release Gross Domestic Product results this morning, and they were slightly below expectations with a gain of only 0.1%.  While most Asian markets have been cautious this morning, the Hang Seng has managed to put in gains.

Key U.S Inflation to be Presented Today, European GDP Numbers

Wall Street added fractional value on Tuesday as investors look forward to the Core Consumer Price Index and Retail Sales data today. Interest rates remain a major talking point and today’s outcome via the inflation figures will be watched intently. The European Union will release GDP numbers this morning. European equities stumbled on Tuesday and have opened cautiously today. Broad market conditions globally remain challenging for traders.

Resistance Being Approached, Gold Climbs as Broad Markets Rumble

Gold has seen another rush upwards and is near 1335.00 U.S Dollar an ounce. The commodity has climbed well the past few sessions and is again entering levels in which resistance has reared its head. Speculators may look for reversals at the juncture, but the broad market volatility should serve as a cautionary signal.

E.U Growth Data Soon, U.S Consumer Price Index, and Retail Sales Today

Gross Domestic Product data from the European Union will be the data highlight this morning at 10:00 GMT.

• 10:00 AM GMT, E.U, Flash Gross Domestic Product
• 13:30 PM GMT U.S, Core Consumer Price Index
• 13:30 PM GMT U.S, Retail Sales

Yaron Mazor is a senior analyst at SuperTraderTV.

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