Global Investors Appear Ready to Take on Risk as Global Shares Rise, Gold and Yen Weaken

A relief rally may be in sight from global investors today in the equity markets. Hurricane Irma’s impact may be less than what had been anticipated, and while geopolitical tensions continue to boil the relatively quiet weekend was a welcomed break. Italian Industrial Production numbers will be presented today.

Relief Rally May be in Sight, Investors Ready to Make an Impact

Investors are likely to experience a huge sigh of relief this morning upon returning to their offices this morning. It appears that Hurricane Irma’s impact will be less than had been worried about. Yes, the storm remains a threat, but its damage may not be as widespread as contemplated. Wall Street saw cautious trading late last week and traders may be ready to turn in a ‘relief rally’ today. Canada will release Housing Starts data today. And the Canadian Dollar continues to be monitored closely in forex.

Surge in Machinery Orders in Japan, Buyers Return to Japanese Equities

The Nikkei and Topix Indexes have produced a buying surge early this morning. Core Machinery Orders numbers from Japan produced an outstanding gain of 8 percent, far exceeding the expected gain of 4.2%. The Yen has weakened and is solidly above the 108.00 juncture against the U.S Dollar. While the Hang Seng has also gained today, the Shanghai Shenzhen composite has been cautious.

U.K. Inflation Data Tomorrow, European Equities Speculative

European equities which have been cautious will be watched closed by investors in the coming days a renewed spark of speculative buying. The Euro and Pound have come under early pressure this morning. However, the Euro continues to be above the 1.20 level against the U.S Dollar. Data will be light from Europe today with only the Italian Industrial Production numbers being released, but tomorrow important Consumer Price Index figures will come from the U.K.

Early Pressure on Gold, Risk-On Hurts Precious Metal

Gold has experienced an early sell-off, as investors have shown the ability to buy equities in Asia. The precious metal has fallen below 1340.00 U.S Dollars an ounce and could come under additional pressure. Volatility could be pronounced because of the perception Gold is highly priced.

Economic Data from Italy, Canadian Housing Sector Numbers

Italian Industrial Production data will be released at 8:00 GMT and European investors will look the numbers over carefully.

8:00 AM GMT Italy, Industrial Production

12:15 PM GMT Canada, Housing Starts

Yaron Mazor is a senior analyst at SuperTraderTV.

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