Japan remains on holiday. Inflation data will come from the European Union tomorrow.
S&P near 2,700 Level as Wall Street Climbs, Fed Paper Later Today
The major Indexes on Wall Street added value on Tuesday and started the New Year with new record highs. The Dow Jones Industrials finished above the 24.800 level and the S&P is slightly below the 2,700 mark. The Federal Reserve’s Meeting Minutes paper will be released later today and will provide investors a looking glass into the Fed’s interest rate decision last month.
Japan Open for Business Tomorrow, Hang Seng Marching Higher
Japan remains on holiday but will be open for business tomorrow. And the Yen has been stronger against the U.S Dollar and is approaching the important 112.00 juncture. Hong Kong’s Hang Seng Index has made cautious gains today, and this follows yesterday’s impressive gains. Caixin Services PMI numbers will be released in China tomorrow.
European Equities Remain Under Pressure, German Unemployment Data
European equities remained under pressure yesterday, and part of the selling impetus has occurred because of the gains made by the Euro and Pound against the U.S Dollar. German unemployment data will be published today, yesterday’s manufacturing numbers from Italy, Spain, and France proved disappointing, but German numbers met expectations. Tomorrow important inflation data will come from the European Union.
Surge Upwards Continues for Gold, Formidable Gains for Precious Metal
If traders have been on the wrong side of the surge upwards in Gold, they are likely feeling uncomfortable again this morning. The commodity is near 1314.00 U.S Dollars an ounce and has proven formidable the past week with solid gains. And the short-term will continue to be interesting for Gold.
U.K Data Coming Today, Federal Reserve’s Monthly Publication Later
Construction Purchasing Managers Index data will come from the U.K at 9:30 GMT and could have an impact on the Pound.
- 9:30 AM GMT U.K., Construction PMI
- 15:00 PM GMT U.S, ISM Manufacturing PMI
- 19:00 PM GMT U.S., FOMC Meeting Minutes
Yaron Mazor is a senior analyst at SuperTraderTV.
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