European Share Markets: Investors Await ECB Press Conference

China Trade Balance numbers were positive this morning. And the broad markets are anticipating ECB President Mario Draghi’s Press Conference.

Wall Street Investors Calmed, Asia Strong as Equities Reverse Upwards

The fear factor which many thoughts were capable of causing a storm yesterday did materialize, but skies started to clear as the day became late on Wall Street and equities started to reverse off lows. While the three major Indexes did finish with losses they were moderate in nature. Asian exchanges have responded this morning with upticks, and the Hang Seng composite has been strong and is actually in positive territory the past month. And the Nikkei Index has added value today with better results. The improved shift in sentiment occurred when President Trump began to drop hints that some nations may be not targeted for tariffs if it is felt they are ‘fair trade’ participants. And a list of replacements following the resignation of Gary Cohen from the White House may have calmed nerves too.

Inflation Creeping Higher in States, Draghi will Strike Cautious Tone

Trade Balance numbers from China this morning were impressive. And traders will now turn their attention to the European Central Bank Press Conference which will be conducted later today. The Euro has remained in a tight range, the Pound has been slightly stronger, while the Yen has weakened against the U.S Dollar. ECB President Draghi will likely not offer many surprises today and will certainly strike a cautious tone. Interestingly, Revised Labor Costs from the U.S yesterday, showed an increase in costs for employers. Meaning inflation continues to creep higher in the States, and may cement the aggressive interest rate policy from the Federal Reserve.

U.S Crude Oil Inventories below Expectations, Headwinds Prevail

U.S Crude Oil has faced headwinds early this week, and the commodity’s range has been rather consolidated. Crude Oil is valued at 61.00 U.S Dollars a barrel. And while Crude Oil inventory data from the U.S was slightly below expectations yesterday, the energy may remain a target for bearish speculation short term.

Weekly Jobs Numbers from States, Minimum Bid Rate from ECB

The European Central Bank’s Press Conference will begin at 13:30 GMT and global traders will monitor its results.

• 12:45 PM GMT E.U, Minimum Bid Rate
• 13:30 PM GMT E.U, ECB Press Conference
• 13:30 PM GMT U.S, Unemployment Claims

Yaron Mazor is a senior analyst at SuperTraderTV.

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