Forex remains lively as the shadows from central banks draw closer with their interest rate announcements due mid-week.
Producer Price Index data will come from the U.S tomorrow. The Dow Jones Industrials begins trading today with active buyers and near record highs.
While the Average Hourly Earnings statistics missed their estimate on Friday, Wall Street continued to produce buying action. The Dow Jones Industrials will begin trading today above the 24,300 juncture. There will be additional jobs data today from the States, but it is tomorrow’s Producer Price Index which will get interest from traders. The Federal Reserve will release its interest rate decision on Wednesday.
Asian markets have opened with gains on the Nikkei, Hang Seng, and Shanghai Shenzhen Indexes this morning. A Manufacturing Index result from Japan proved disappointing and Money Stock data from Japanese banks came in slightly below estimates. However, risk appetite remains buoyant in Asia, and the Yen remains within its weaker range against the U.S Dollar near the 113.50 level.
The Pound and Euro will be under the microscope early today as traders search for equilibriums before central bank pronouncements come from the Bank of England and European Central Bank this Thursday. Italian Retail Sales figures will be published today, and tomorrow important inflation data will come from Britain.
Gold continues to battle intense headwinds and is near crucial support levels. The precious metal’s value this morning is around 1248.00 U.S Dollars an ounce as traders look at it suspiciously. Speculative buying positions may be attempted, but traders need to be ready for potentially uncomfortable market action.
Italian Consumer Spending Data, More Jobs Numbers from States
Job Openings data will come from the U.S at 15:00 GMT from the States today, which will give traders additional insights.
Yaron Mazor is a senior analyst at SuperTraderTV.
SuperTraderTV Academy is a leader in investing and stock trading education. Sign up for a class today to learn proven strategies on how to trade smarter.
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.