Gold Rises Sharply and US Dollar Weakens in the Last Trading Days of the Year
Consumer Confidence data in the States yesterday produced a surprising fall, but Wall Street did manage to produce gains on the three major Indexes.
Consumer Confidence Fall in States, Pending Homes Sales Improve
Pending Home Sales numbers in the States showed an improvement on Wednesday. However, a Consumer Confidence reading came in below its estimate, and its prior month’s results were revised downward. Wall Street did manage to turn in a positive day of trading for all three major Indexes, but volumes were remarkably light. Weekly Unemployment Claims figures will come from the States today.
Japanese Retail Sales Produce Gains, Industrial Numbers Solid from Japan
Retail Sales data from Japan this morning produced a strong gain of 2.2% against the estimated gain of only 1.1%. Industrial Production numbers from the nation were also better. And the Yen has been slightly stronger against the U.S Dollar. Asian equity Indexes have produced very cautious trading today.
Lackluster Trading for European Equities, Euro and Pound Gain
European equities mirrored their global counterparts on Thursday with lackluster trading as most financial institutions remain on the sidelines until the New Year’s holiday passes. The Euro and Pound, however, have made strides against the U.S Dollar and both currencies are positioned near important resistance levels. And traders should note, German Consumer Price Index data will be released tomorrow.
Appetite for Gold Increasing, Precious Metal Nears Important Heights
A flurry of buying activity continues to be seen in the Gold market as the precious metal has reached important heights. The commodity is near 1290.00 U.S Dollars an ounce and should be monitored closely as speculators appear to have developed an increased appetite for Gold.
Weekly Jobs Numbers from U.S, ECB Report on Today’s Schedule
The European Central Bank’s Economic Bulletin could prove worthwhile today, upon being issued for interested investors at 9:00 GMT.
- 9:00 AM GMT E.U, ECB Economic Bulletin
- 13:30 PM GMT U.S, Unemployment Claims
- 16:00 PM GMT U.S. Crude Oil Inventories
Yaron Mazor is a senior analyst at SuperTraderTV.
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