Equities on Wall Street put in tepid gains on Monday as investors continue to show caution due to the inability in Washington to produce clarity regarding
Equities on Wall Street put in tepid gains on Monday as investors continue to show caution due to the inability in Washington to produce clarity regarding a tax reform package. The ECB is conducting a policy discussion and global central bank leaders are attending.
Wall Street put in fractional gains on the three major Indexes on Monday, but the results were not exuberant. A Producer Price Index report will come from the States, but investors will also continue to keep an eye on the tax reform package which is facing obstacles. And the U.S Dollar has been softer in forex. Tomorrow the States will see a Consumer Price Index and Retail Sales figures.
The Nikkei Index has gained slightly this morning, after rather heavy selling yesterday. China Industrial Production figures this morning almost met its target head-on with a gain of 6.2 percent. Tomorrow Gross Domestic Product numbers will come from Japan. The Yen has maintained a steady range against the U.S Dollar and is near 113.90.
The European Central Bank is conducting a policy panel discussion today which includes the leaders of major central banks. Mario Draghi, Mark Carney, and Janet Yellen will participate among others. And the U.K will release important inflation data early. The Euro and Pound have found some support this morning. The Euro is near 1.1670 against the U.S Dollar as it has put in slow but steady gains. Tomorrow the Average Earnings Index statistics will come from Britain.
Gold is near 1272.00 U.S Dollars an ounce this morning. Gold has been able to sustain its higher short-term range and traders may believe it is ready to test lower values. However, the past two weeks have been choppy for the precious metal, which still has investors uneasy.
Inflation Data from U.K and U.S, Central Bankers Discussion in Frankfurt
The U.K will release important Consumer Price Index data at 9:30 GMT, which will be examined by traders closely.
Yaron Mazor is a senior analyst at SuperTraderTV.
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Yaron has been involved with the capital markets since 1998. During the past 16 years, Yaron has been a day and swing stocks trader in the American market. Yaron has founded and made successful investments into businesses spanning exciting industries – from apparel to restaurants and bars, to high tech, medical technology, and education.