Global Stocks Fall as US Bond Yields Above 3%

The U.S Dollar has seen its momentum halted for a day. The ECB is tomorrow with it Monetary Policy decision. GDP numbers are on Friday from the States.

Wall Street Struggles Again as Bonds Roar, Solid Data from U.S Consumers

U.S equities lost significant ground on Tuesday in the midst of the near hysteria being heard because of bond yields climbing. The three major Indexes on Wall Street have had essentially four negative sessions in a row. The White House did signal it hopes it can reach a trade agreement with China soon but said it is willing to trigger tariffs if there is no success. Economic data from the States was strong yesterday with a solid result from the Consumer Confidence reading. Gross Domestic Product numbers are on Friday from the States. Asian equities have declined slightly this morning, and have been led by the Hang Seng Index.

Forex Goes into a Holding Pattern, Euro & Pound near Important Support

The U.S Dollar’s strong trend was halted on Tuesday as forex traders saw the Yen, Euro and Pound find equilibrium. Important technical support remains in place for the Euro and Pound and this may spur on speculative buyers. However, the European Central Bank’s Monetary Policy and Press Conference pronouncements are tomorrow which may create some tension in forex. The Yen remains weak and near important resistance as it stays below the 109.00 juncture versus the U.S Dollar. The growth data from the U.S on Friday will impact forex before going into the weekend.

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Gold in Precarious Position, Gold Provides Short Term Bounce

Gold is slightly below the 1329.00 U.S Dollars an ounce level after providing a short-term bounce higher. While the U.S Dollar has the forex market on edge, the precious metal continues to trade in a precarious manner. Short term resistance above near the 1333.00 juncture could trigger more selling by speculators.

China Data from Conference Board, Supply Numbers for Crude Oil

The U.S Crude Oil Inventories report at 14:30 GMT could trigger a reaction in the commodity markets.

• 13:00 PM GMT, China, CB Leading Index
• 14:30 PM GMT, U.S, Crude Oil Inventories

Yaron Mazor is a senior analyst at SuperTraderTV.

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