Geo-Politics, Data and Central Banks Coming

Risk Events Abound Next Two Days, Investors on Edge of Their Seats

Risk events abound for investors today and tomorrow. The European Central Bank will conduct its monthly Press Conference meeting shortly, and Core Durable Goods Orders data will come from the States. And tomorrow’s summit between North Korea and South Korea will have investors on the edge of their seats too. U.S growth data will be released on Friday too. The U.S Dollar has continued to be strong as bond yields via the 10-Year Treasuries attract investors. Wall Street had a mixed session yesterday, and Asia produced a choppy equity session among its Indexes today. And European stocks have been cautious thus far as traders await ECB President Mario Draghi’s interpretations of the European economic landscape.

U.S Dollar Needs Careful Attention, Euro & Pound Technically Fragile

The Euro, Pound, and Yen have found some stability this morning, but continue to traverse fragile technical environments. The ECB’s meeting is important, and tomorrow the Bank of Japan will issue its policy statements. And adding fuel to the fire will be the Gross Domestic Product numbers from the U.S on Friday, which will be a big catalyst in forex as investors try to gauge where Federal Reserve sentiment is regarding its interest rate outlook and hawkish rhetoric. There can be no doubt the U.S Dollar has dominated the marketplace the past week, and it should be given attention.

Dangerous Juncture for Gold, Speculators May Look for Reversal

Gold is at a dangerous juncture as it churns near 1323.00 U.S Dollars an ounce. The recent slump in the precious metal is an indication of Dollar strength, and while some speculators may look for a reversal, Gold has tested lower values in the past couple of months and should be treated with respect.

European Central Bank Statement, U.S Durable Goods Order Figures

The ECB Press Conference, which starts at 12:30 GMT will hold the attention of forex traders.

• 12:30 PM GMT, E.U, ECB Press Conference
• 12:30 PM GMT, U.S, Core Durable Goods Orders

Yaron Mazor is a senior analyst at SuperTraderTV.

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