The U.S Federal Reserve will release its monetary policy outlook later today. The U.S Dollar has been weaker early this morning.
Equities Higher in Asian after Weak Wall Street Session, Apple Whispers
Wall Street suffered its second consecutive day of losses on Tuesday with sharp losses on the three major Indexes. The Dow Jones Industrials lost 1.37% worth of value. However, President Trump’s State of the Union message late last night appears to have been received well. Asian markets have reversed upwards this morning after some initial pressure. Japanese Industrial data was better than expected, and China’s manufacturing numbers met their targets. Wall Street will remain a large focus today. And there are reports developing regarding Apple, which may have to change its outlook regarding sales figures for its iPhone X.
Fed’s Outlook Could Impact U.S Dollar, Major Currencies Fight Gain Ground
The U.S Dollar has been weaker against the major currencies the past twelve hours. And President Trump did not mention the U.S Dollar during his State of the Union speech. The U.S Federal Reserve will release its monetary policy statement later today. The Pound has gained versus the U.S Dollar this morning, even as U.K Prime Minister fights for her political life against a Tory rebellion. Growth numbers from Europe met their expectations yesterday and the Euro has been stronger.
Gold a Barometer of Broad Market Action, Active Reversal Upwards Builds
Gold has been a good barometer of the broad markets. After another sell-off yesterday and touching support levels, the precious metal began to reverse higher and buyers have remained active this morning. Gold is around 1341.00 U.S Dollars an ounce.
European Inflation Data Soon, Federal Reserve Policy Statement Later
Inflation data from the European Union will be given consideration when the Consumer Price Index Flash Estimate is released at 10:00 GMT.
- 10:00 AM GMT, E.U, CPI Flash Estimate
- 13:30 PM GMT, Canada, Gross Domestic Product
- 19:00 PM GMT, U.S, FOMC Statement
Yaron Mazor is a senior analyst at SuperTraderTV.
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