President Trump is in Japan and has called for a change to ‘unfair’ trade agreements with the States. German Factory Orders were better than anticipated this morning. And New York Fed President Dudley will be speaking today.
Tax Reform Discussions Continue, Janet Yellen Speaking Tomorrow
Data from the U.S will be light today, but investors will keep their eyes on President Trump as he makes his way across Asia, and in Washington, as Congress continues to discuss tax reforms. Quarterly earnings will continue from the corporate front today, and Wall Street will open with the Dow Jones Industrials testing record heights. Fed Chairwomen Janet Yellen will make an address tomorrow.
Asian Investors Cautious & Calm, Trumps Says Japan has Unfair Advantage
President Trump’s tour of Asia is fully underway. Trump was quoted as saying Japan has an unfair advantage when it comes to trade with the States. However Asian investors have not reacted with nervousness. The Nikkei and Shanghai Shenzhen Indexes have been cautious but calm. The China Central Bank leader this morning said credit regulations should change in China to avoid financial risk to it lending sector. The Yen has been weaker against the U.S Dollar in early.
Improved German Factory Orders, European Finance Ministers Meeting
German Factory Orders data has come in with a better number than expected this morning. And Eurogroup meetings are underway with E.U Finance Ministers taking part. The Euro continues to remain weak against the U.S Dollar and is near the 1.16 level. Tomorrow German Industrial Production numbers will be released, and the U.K will see the Halifax Home Price Index.
Gold Inches Higher but Still near 3-Month Low
Gold’s tough conditions remained intact early this morning. The precious metal gained 0.25% and is near 1272.00 U.S Dollars an ounce. The lynchpin for the pressure on Gold seems to be the relatively strong U.S Dollar and global equity markets that continue to attract buyers.
Eurogroup Meetings Underway, New York Fed President Address
Traders will keep an ear on New York Fed President William Dudley when he speaks at 17:10 GMT.
- All Day E.U., Eurogroup Meetings
- 17:10 PM GMT U.S., Federal Reserve Member Dudley Speaking
Yaron Mazor is a senior analyst at SuperTraderTV.
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