Investors Face Two Busy Days Ahead, Pound Falls after BoE Leaves Rates Unchanged and Cuts Growth Forecast

Weekly Unemployment Claims will come from the States, along with Factory Orders data today. The Bank of England’s Monetary Policy Summary is effecting the Pound, while the Euro has maintained its range against the U.S Dollar.

Investors Bracing for Avalanche of Data, Dow Jones Industrials in Focus

An avalanche of data will come from the U.S today and climax tomorrow. Unemployment Claims and Factory Orders will be released, along with a Non-Manufacturing Services PMI report. Tomorrow’s jobs data is rapidly approaching and investors are fully readying themselves for potential surprises. The Dow Jones Industrials finished above 22,000 yesterday, but the Index is expected to open slightly lower today via indications from the Futures Market. It will be a busy day for equities and forex.

Asian Markets Showing Caution, Yen Moves in Consolidated Range

Asian markets became cautious and turned in losing sessions across the major Indexes. The Nikkei, Hang Seng and Shanghai Shenzhen Indexes have been tentative the past two trading sessions. The Caixin Services Purchasing Managers Index report for China was disappointing. Tomorrow an Average Cash Earnings report will come from Japan. The Yen has moved in a tight range against the U.S Dollar today.

Bank of England Moving Pound, Euro Maintains Noteworthy Value

The Pound remains in focus as traders react to the Bank of England’s Monetary Policy Summary and Inflation Report the next few hours. The BoE has announced to leave rates unchanged and to cut its growth forecast. The Pound dropped immediately after the announcement. The Euro has held its ground against the U.S Dollar, and the 1.1850 level remains a noteworthy juncture. The Final Services PMI results from the U.K matched its estimate, but the German Services number came in below expectations.

Speculators Ready for Action, Gold Certain to be Volatile  

Gold has faced slight headwinds as investors prepare themselves for what is certain to be a volatile trading environment as tomorrow’s jobs numbers data approaches. The precious metal’s gains the past two weeks have not gone unnoticed, and Gold has not suffered any major setbacks recently. Speculators are watching the precious metal and will act in the near term. The 1270.00 U.S Dollars an ounce level remains important.

Yaron Mazor is a senior analyst at SuperTraderTV.

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