Draghi, Carney and Yellen Speaking Today at European Events

Global equities put in gains on Monday and continue to display some risk taking. Three major speeches will come from central bank leaders today including Mario Draghi, Mark Carney and Janet Yellen. Wall Street turned in a mixed session on Monday. And a flash crash in Gold has the attention of commodity traders.

Lackluster Durable Goods Orders – Investors Remain in Holding Pattern

U.S stock markets continued to give mixed signals on Monday. While the Dow Jones Industrials and S&P gained, the NASDAQ lost ground. Wall Street continues to tread water near important highs, but investors appear to be taking a wait and see approach regarding their next moves. Yesterday’s Core Durable Goods Orders figures missed their estimate, which sets the stage for today’s Consumer Sentiment reading and Thursday’s Gross Domestic Product data. Federal Reserve Chairwoman Janet Yellen will be speaking in London later today and this could impact the U.S Dollar.

China Financial Summit Underway – Nikkei and Topix Advance Early

Japanese equities have continued to advance in early trading today as the Nikkei and Topix have gained slightly. The Yen has weakened more against the U.S Dollar and the 112.00 mark is acting as resistance. Bank of Japan Governor Kuroda will be speaking tomorrow in Europe.

A government sponsored Financial Summit is taking place in China in which it has outlined new policy for foreign investors which includes less restrictions. The Shanghai Shenzhen has seen marginal losses this morning.

Mark Carney Speaking This Morning – European Equities Gain Moderately

European equities turned in moderate gains on Monday and reflected the general mood of the global markets. The U.K’s Mortgage Approval numbers met their expectations on Monday. Today Bank of England Governor Mark Carney will deliver a speech on the financial stability of Britain. The Pound has range traded, but has held onto gains made late last week. The 1.27 level remains support in the short term. The European Central Bank’s forum will continue today and ECB President Mario Draghi will make comments again. The Euro has also range traded against the U.S Dollar the past day.

Violent and Sudden Selloff in Gold – Gold Stable after Flash Crash

A sudden flash crash took place in the Gold market yesterday. The violent drop in value of the precious metal came because of one massive selling order. The 1240.00 U.S Dollars an ounce level should be watched carefully today. After the massive sell order yesterday, the Gold market did stabilize. However, yesterday’s spike downwards will remain a talking point for traders today.

Yaron Mazor is a senior analyst at SuperTraderTV.

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