Gold and U.S Crude Oil Produce Holiday Spree, iPhone X Sales Disappoint

Today the CB Consumer Confidence numbers will come from the States. Gold and U.S Crude Oil have seen speculative buying.

iPhone X Sales Disappoint Analysts, Wall Street Stumbles after Holiday

Wall Street produced cautious selling the day after Christmas. And Apple faced headwinds after analysts said sales for the iPhone X have been weaker than expected. The Richmond Manufacturing Index did not meet expectations yesterday, but today’s Conference Board Consumer Sentiment survey will get more attention from investors.

Household Spending Increases in Japan, Extremely Cautious in Asia

Housing Starts data from Japan was stronger than expected today. The combination of yesterday’s better inflation and consumer spending statistics along with today’s numbers could put a spring in the step of Japanese investors. However, the Nikkei Index along with other Asian equity exchanges has remained rather cautious today. The Yen has remained within a very tight range against the U.S Dollar.

European Equities Open for Trading, U.K Data for Housing Sector

European equity exchanges are open for business today, but trading volumes will remain light well into next week. The U.K will see the High Street Lending numbers today, which will give insights about the strength of the British mortgage sector. The Pound and Euro produced consolidated trading on Tuesday and remain within their stronger boundaries short term against the U.S Dollar.

Gold Remains Bullish and Speculative, Crude Oil Climbs Above 60.00 USD

Gold and Crude Oil produced speculative buying on Tuesday as both commodities proved strong. Gold is near 1281.00 U.S Dollars an ounce, while Crude Oil broke above 60.00 U.S Dollars a barrel. Traders remain bullish and may remain buyers, but they should be on the lookout for sudden reversals.

U.S Consumer Data on Schedule, Mortgage Numbers from U.K Coming

The Consumer Confidence reading in the States will prove interesting for traders when it is released at 15:00 GMT.

• 9:30 AM GMT U.K, High Street Lending
• 15:00 PM GMT U.S, CB Consumer Confidence

Yaron Mazor is a senior analyst at SuperTraderTV.

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