Manufacturing Data in the Spotlight Today, Global Stocks Slide on Rate Hike Worries

Manufacturing data from Japan, Europe, U.K., Canada and the U.S. are being published during the day and will serve as a key price driver in the Forex and market.

Treasury Market concerns, Asian Stocks Slide

U.S. stocks declined on Wednesday as focus shifts from the strength of the global economy to growth and treasury market which plays a major theme in investors’ eyes. Consolidation in the treasury market gears uncertainty at this juncture as 10-year yields is expected to rise to 3.25 percent. Asian shares slide on Thursday morning.

Growth Data Shay, Manufacturing data in Spotlight.

U.S. Bureau of Economic Analysis released the Q4 Gross Domestic Product Annualized early on Wednesday and it expressed the belief that growth in the U.S will be slower than previously forecasted as the report was digested by investors, Wall Street began to stumble late in its session. Brexit is the top issue with open questions regarding what kind of transition arrangements and long-term relationships are expected.

Gold Whipsaw, Speculative Traders Being Challenged

Gold experienced whipsaw trading on Wednesday and will get plenty of attention in the coming days. The precious metal remains under pressure and sold off in the aftermath of the Federal Reserve’s report. Gold is struggling to keep its strong mid-term support level and is proving rather challenging for short-term speculators.

Manufacturing data stream during the day, Fed Chair Powell Testifies Today

Manufacturing data from Japan, Europe, the U.K., Canada and the U.S. are being published during the day and will be closely watched by global investors.

• 09:00 AM GMT E.U, Markit Manufacturing PMI
• 09:30 AM GMT U.K, Markit Manufacturing PMI
• 15:00 PM GMT U.S., ISM Manufacturing PMI, Fed’s Powell Speech.

Yaron Mazor is a senior analyst at SuperTraderTV.

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