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Equities Turning Bullish as Risk Appetite Ignites, US Futures Point to a Higher Open

Yaron Mazor
Equities Turning Bullish as Risk Appetite Ignites

Risk appetite has shown signs of life this morning as the Nikkei and Topix Indexes in Japan have put in solid gains. Canada will release Housing Starts data today. The Euro has range traded early. CPI data will come from the U.K tomorrow.

Wall Street Expected to Surge Early, Investors Breathe Sigh of Relief

U.S equity markets are being called to open higher this morning as fears have subsided regarding the aftermath of Hurricane Irma. The storm may produce flooding problems, but the catastrophic damage which some had anticipated has not come to fruition. Wall Street which was extremely cautious late last week, will breathe a sigh of relief and investor sentiment appears ready to surge early. Data from the States will be very light today.

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Nikkei and Topix See Strong Buying, Hang Seng Continues Bullish Run

The Nikkei and Topix Indexes experienced strong buying today. The lack of a threatened missile test launch from North Korea has allowed Asian investors to relax. Japanese Machinery Orders this morning proved expensive, turning in a gain of 8 percent. The Yen has weakened too, which indicates risk adverse trading is ebbing. The Hang Seng continues to be bullish and its gains today have pushed it to almost a 4 percent gain in the past month.

Italian Data Beats Estimate, Euro Pushes Back Against U.S. Dollar

Italian Industrial Production numbers beat expectations today. The gain of 0.1 percent may appear small, but it beat the negative forecast of minus -0.5% by a wide margin. The Euro has range traded against the U.S Dollar early, after seeing early pressure, the currency has pushed back above the 1.20 level. Consumer Price Index numbers will come from the U.K tomorrow. And on Thursday the Bank of England will issue its Monetary Policy Summary.

Gold Finds Momentary Support, Speculative Gold Market Anticipated

Gold has seen volatile early trading. The precious metal suffered early downward pressure, but has seen support hold in the past few hours. Gold remains under 1340.00 U.S Dollars an ounce and traders should be ready for more potential speculative action in the short-term.

Canadian Housing Sector Data Today, CPI Data from U.K. on Tuesday

Housing sector figures will come from Canada at 12:15 GMT and be watched by traders.

  • 12:30 PM GMT Canada, Housing Starts
  • 8:30 AM GMT – Tuesday – U.K., Consumer Price Index

Yaron Mazor is a senior analyst at SuperTraderTV.

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