Global Equities Gaining Moderately as Investors Show Caution

Asian markets have been positive today following the results from the States on Monday. However, European equities have been cautious and mixed. The JOLTS Job Openings report will come from the States today. However, investors are also getting ready for Janet Yellen’s testimony in Washington on Thursday.

 Janet Yellen Speaking Before Congress on Thursday

U.S investors turned in gains on the three major Indexes on Monday, which followed in the positive wake from Friday’s solid outcome. However, Wall Street has not turned in a stellar month of trading, as investors continue to express signs of nervousness. Jobs data will be brought forth with the Jolts Job Opening statistics today. However, investors are beginning to eye the monetary policy hearings which will start in Washington on Thursday before Congress with Federal Reserve Chairwoman Janet Yellen taking questions. Cautious optimism is fueling the range trading being seen the broad markets among investors.

Japanese Money Supply Data Mixed

The Hang Seng led gainers in the Asian equity markets. And the All Ordinaries Index from Australia was able to reverse off early declines and finish with positive momentum. The Bank of Japan’s Money Stock report which was published showed more cash circulating in the Japanese economy, but last month’s figure was revised downwards. The Yen continues to range trade against the U.S Dollar and appears to comfortably be trading above the 114.00 level in the short-term.

European Economy Improving via Data

Italian Industrial Production numbers came in better than expected today. The positive number from Italy is another signal the European economy is continuing to improve. The Euro remains near the 1.14 juncture against the U.S Dollar. Important employment figures will come from the U.K tomorrow, including the Average Earning Index report which will provide insights regarding inflation for Britain. The Pound is trading around 1.29 against the U.S Dollar early today.

Short Term Consolidation in Crude Oil

Crude Oil has traded in a tight range the past day as investors have let the commodity consolidate in the short-term. However, tomorrow’s Crude Oil Inventories numbers are on the horizon and speculators are likely positioning themselves ahead of the report.

Yaron Mazor is a senior analyst at SuperTraderTV.

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