President Trump is still in China as he talks geopolitics and trade. Asian equities have soared this morning led by the Nikkei again. The European Union will release its quarterly Economic Forecasts report today.
U.S Dollar Firm as Traders Wait, Fractional Gains in Equities
Wall Street produced fractional gains on Wednesday as investors remain tentative in the short term. The U.S Dollar has been firm in forex, as traders continue to interpret what will happen in Washington regarding tax reform proposals. The weekly jobs numbers will come from the States today, and Wholesale Inventories figures will be seen too.
Trump and Xi Address Business Conference, Asian Equities Surge Again
Consumer Price Index and Producer Price Index readings from China produced solid gains, proving economic conditions in the nation are robust. A joint business conference was held in Beijing today between Chinese and American leadership and produced positive speeches. Asian equities have continued to surge today and the Nikkei Index has gained nearly 12 percent the past month. Tomorrow Japan will see an Industry Activity report.
European Reports on Schedule, Euro & Pound Remain Consolidated
The European Union will release its quarterly Economic Forecasts publication today for investors to read. An Economic Bulletin will also be issued. German Trade Balance numbers have already been seen this morning, and French Trade data yesterday met its estimate. The Euro continues to languish near 1.16 against the U.S Dollar. The U.K will release Manufacturing Production data tomorrow.
Gold Tranquil as it Hovers Near Highs, Crude Oil Rather Quiet
Gold and Crude Oil have seen tight range trading the past day and have mirrored the caution seen in the broad markets as traders tread carefully. Gold is near 1284.00 U.S Dollars an ounce, and Crude Oil remains near 57.00 U.S Dollars a barrel. The rather quiet trading conditions should be treated carefully.
E.U Quarterly Outlook Released Today, U.K Manufacturing Production Friday
Traders will pay attention to the weekly Unemployment Claims report from the U.S upon its publication at 13:30 GMT.
- 10:00 AM GMT E.U., Economic Forecasts Report
- 13:30 PM GMT U.S., Unemployment Claims
Yaron Mazor is a senior analyst at SuperTraderTV.
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