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Federal Reserve Leadership Becoming a Focus, Asian Stocks Mixed after China Growth Data

By:
Yaron Mazor
Published: Oct 19, 2017, 07:54 UTC

Wall Street continued to surge on Wednesday and break records. Donald Trump will be meeting with Janet Yellen to discuss the leadership of the Federal

federal resreve

Wall Street continued to surge on Wednesday and break records. Donald Trump will be meeting with Janet Yellen to discuss the leadership of the Federal Reserve. Retail Sales number will come from the U.K, and weekly Unemployment Claims will be released from the States.

Trump Meeting with Yellen, Buying Frenzy Stays Strong on Wall Street

Investors helped the Dow Jones Industrials surge to new highs on Wednesday as Wall Street stayed within a buying frenzy. President Trump will meet with Fed Chairwoman Janet Yellen soon to discuss the leadership role of the U. S central bank. Trump is expected to name a new Federal Reserve head in early November. Unemployment Claims and the Philly Fed Manufacturing Index reading will be released today.

Data Meets Expectations in China, Equities Continue to Allure Asian Investors

Gross Domestic Product numbers from China met expectations, and Industrial Production figures beat their estimates slight earlier today. Trade Balance numbers from Japan came in below forecasts. However, the Nikkei Index has continued its rally with strong buying and the Yen has been weaker and is trading near 113.00 against the U.S Dollar.

Draghi Talks Tapering by ECB, Range Trading in Forex

The Pound and Euro recovered slightly on late Wednesday against the U.S Dollar, as range trading has come into vogue for forex. Retail Sales will be released from the U.K today. European Central Bank President Draghi spoke about the need to begin tapering monetary policy yesterday but did not offer a firm timeline.

Gold Selling Influence Continues, Precious Metal Speculative Short Term

Selling in Gold has continued this morning as it trades below 1280.00 U.S Dollars an ounce. The precious metal has lost value the past week as global equities have pressed forward and the U.S Dollar has been steady. However, speculative selling may be having an influence too in the short term.

Consumer Spending Data from U.K., Weekly Jobs Numbers from States

The Retail Sales numbers from the U.K could prove to be interesting for traders when they are released at 8:30 GMT.

  • 8:30 AM GMT U.K., Retail Sales
  • 12:30 PM GMT U.S., Unemployment Claims
  • 12:30 PM GMT U.S., Philly Fed Manufacturing Index

Yaron Mazor is a senior analyst at SuperTraderTV.

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About the Author

Yaron Mazorcontributor

Yaron has been involved with the capital markets since 1998. During the past 16 years, Yaron has been a day and swing stocks trader in the American market. Yaron has founded and made successful investments into businesses spanning exciting industries – from apparel to restaurants and bars, to high tech, medical technology, and education.

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