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Markets Focus on Trump, Draghi and Geopolitical Risks

By:
Yaron Mazor
Published: Nov 6, 2017, 09:06 UTC

Global investors will monitor President Trump’s Asian tour closely. Trump is in Japan today and Korea tomorrow. Wall Street remains near record highs and

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Global investors will monitor President Trump’s Asian tour closely. Trump is in Japan today and Korea tomorrow. Wall Street remains near record highs and the U.S Congress continues to consider the merits of a proposed tax reform package. Eurogroup meetings will get underway today.

Broad Markets Ready for Trump, Tax Reform Remains Talking Point

Wall Street will open today near all-time highs, but risk events shadow the broad markets as President Trump embarks on his political journey of Asia. Traders responded to Trump’s last trip overseas, which was to Europe, with positive results, and they will hope the President doesn’t spark controversial remarks which could hurt the broad markets. Tax reform whispers will continue to make news in the States as Congress considers its merits. Data will be light from the U.S today, but New York Fed President Dudley will be speaking later.

Trump in Japan Today as Investors Brace, Risk Appetite Growing

President Trump’s tour overseas will keep Asian investors on their toes this week. Trump will be in Japan today and South Korea tomorrow. The Nikkei Index has been bullish for over two months as risk appetite shows no inclination of wavering. Average Cash Earnings data will come from Japan early tomorrow. On Wednesday, China is tentatively scheduled to release Trade Balance results.

Eurogroup Ministers Meeting Today, ECB President Draghi Tomorrow

Eurogroup finance ministers will meet today to prepare for a December European Union summit. The Euro is near important psychological mid-term support as it lingers near 1.16 against the U.S Dollars. And Services Purchasing Manufacturing Index readings will come from Germany and France today. Tomorrow European Central Bank President Draghi will speak in Frankfurt.

U.S Crude Oil at 2-Years High as Major Turmoil in Saudi Arabia

U.S Crude Oil has continued to traverse higher ground. The commodity enters today’s trading testing long-term highs as the commodity is trading around 56.00 U.S Dollar level. Crude oil prices are highly affected by the recent development in Saudi Arabia as arrests and uncertainty spread the country. A steady trend upwards has attracted new buyers and Crude Oil needs to be monitored in the coming days.

E.U Investor Sentiment Survey, Fed Member William Dudley in New York

The European Union will see the Sentix Investor Confidence reading at 9:30 GMT and traders will react to the results.

  • 9:30 AM GMT E.U., Sentix Investor Confidence
  • 17:10 PM GMT U.S., New York Fed President Dudley Speaking

Yaron Mazor is a senior analyst at SuperTraderTV.

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About the Author

Yaron Mazorcontributor

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.

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