Global Stocks Edge Higher in Low Holiday Volume

Gold has slumped again. Manufacturing data will come from the U.K and U.S today.

U.K and U.S Open for Trading, Fed Statement Tomorrow Lurks

Wall Street produced an extremely cautious trading session on Monday as investors brace for corporate earnings reports on the calendar this week. Economic data from the States came in below expectations via Personal Income and Pending Home Sales yesterday. However, the U.S Dollar remains ultra-strong and the Federal Reserve will release its Monetary Policy Statement tomorrow. Many global markets will be closed because of Labor Day, China and many European Indexes are shuttered. The U.K and U.S will be open and investors will be watched as they react to manufacturing data, and position themselves for the days ahead.

European Data Trips Euro, Traders Need Patience if Reversals Sought

The Euro tripped up on Monday and sank to lows not seen since mid-January. The European currency is near an important long-term support ratio, and ifs it breaks beneath it current values it will begin testing the gains it made in the summer of 2017. German retail figures were weak yesterday and Italian inflation numbers came in below their target. The U.S Dollar continues to display strong momentum in the short term, and speculators looking for a sudden reversal will need to be patient and have their risk management prepared.

Methodical Slump for Gold Remains, Buyers in Short Supply

Gold remains stuck in a methodical slump as the U.S Dollar continues to exhibit strength. The commodity is near 1312.00 Dollars an ounce and speculative buying has been in short supply. The precious metal may continue to languish in the coming days.

U.K and U.S Manufacturing Numbers, Canadian Growth Statistics Today

The U.K will publish important Manufacturing numbers at 8:30 GMT and it could influence the Pound.

• 8:30 AM GMT, U.K, Manufacturing PMI
• 12:30 PM GMT, Canada, Gross Domestic Product
• 14:00 PM GMT, U.S, ISM Manufacturing Purchasing Managers Index

Yaron Mazor is a senior analyst at SuperTraderTV.

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