Global equities have become cautious. Asian Indexes have slumped this morning.
The U.S Dollar has been stronger. Inflation data will come from the States today via the Producer Price Index.
Wall Street turned in a nervous session on Wednesday as the three major Indexes lost value. However, selling was not heavy and market conditions continue to appear tentative. Important inflation data will come from the States today via the Producer Price Index, and tomorrow Retail Sales and the Consumer Price Index reading will be released.
Retail Sales from Australia showed improvement this morning with a gain of 1.2%. However, that result has not helped Australian equities, nor has it bolstered other Asian equity markets which have seen cautious selling today. Trade Balance numbers will come from China tomorrow. And the Yen has continued to stay strong against the U.S Dollar.
Industrial Production numbers will come from Europe today, yesterday’s manufacturing and production results from the U.K essentially met expectations. A credit report will come from the Bank of England. The Footsie managed to gain yesterday, while other major European equity Indexes lost ground. The Euro and Pound saw choppy trading yesterday and remain under pressure.
Commodities have continued to prove bullish this week and Gold and Crude Oil have both benefited as they have maintained their stronger stances. The precious metal is near 1317.00 as it continues to test resistance. And U.S Crude Oil continues to attract speculators.
Bank of England Borrowing Statistics, U.S Inflation Data Today
Investors will read through the European Central Banks Monetary Policy Meeting Accounts when it is released at 12:30 GMT.
Yaron Mazor is a senior analyst at SuperTraderTV.
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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.