Global Stocks Remain under Pressure amid Trade Tensions

Whipsaw trading has been seen on the NASDAQ and nervous sentiment remains intact. Forex has been relatively calm as traders look forward to Friday’s inflation data from the States via the Average Hourly Earnings.

Twists and Turns Expected in Equities, NASDAQ’s Tough Short Term Road

The rollercoaster ride has continued on Wall Street as the three major Indexes put in gains on Tuesday. However, fragile sentiment has not subsided and traders can certainly expect more twists and turn in equities. Most Asian markets have seen cautious selling this morning, but the Shanghai Shenzhen composite has put in rather solid gains. Chinese equities have done well today, even as growing trade tensions between the U.S and China flourish – and the Caixin Services results for the nation were below forecasts. European Indexes have opened tentatively. The big question is what U.S equities will do next? The NASDAQ has lost over four and a half percent of value the past month. However, over the past year, it has gained more than seventeen percent, which highlights a long-term perspective may be wise.

Tight Range Trading in Forex, Better Manufacturing Results in U.K

Forex has remained stable this morning. The Pound has gained incrementally and is a trace below the 1.41 level against the U.S Dollar. Manufacturing data from the U.K yesterday was slightly better than expected. And European Union Manufacturing readings came in around their estimates. The Euro has been fractionally higher the past couple of hours but has experienced pressure the past few trading sessions. Consolidation may continue to dominate forex before the important inflation numbers coming from the U.S on Friday via the Average Hourly Earnings.

Mounting Tariffs via China & U.S a Concern, Crude Oil Inventories Today

U.S Crude Oil Inventories data will be issued today and the commodity has experienced headwinds since the middle of last week. A tight range has been a factor for U.S Crude Oil prices, but investors may be growing concerned by the tariffs coming from China and the U.S which show no signs of relenting. U.S Crude Oil is above 63.00 Dollars a barrel.

Services Reading from States, Jobs Numbers Starting from the U.S

Services data could prove useful for investors when the Non-Manufacturing Purchasing Managers Index is releaseds& in the States at 14:00 GMT.

• 8:30 AM GMT U.K, Construction PMI
• 12:15 PM GMT U.S, ADP Non-Farm Employment Change
• 14:00 PM GMT, U.S, ISM Non-Manufacturing PMI

Yaron Mazor is a senior analyst at SuperTraderTV.

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