Markets Rebound after Yesterday’s Wicked Selling in Asia

Investors in the U.S have taken their foot off the gas pedal on Wall Street as trading remains fragile. The U.K will issue Retail Sales today. Asian markets have turned in better results, reversing after yesterday’s strong selloff.

Cracks in the Bull Market Armor, U.S Retail Sales Weaker Than Estimated

Wall Street showed more cracks within its bull market armor on Wednesday as investors display fragile sentiment. Retail Sales were weaker than expected and the Consumer Price Index hit its target head-on. Weekly jobs numbers will be released today, along with the Philly Fed Manufacturing Index reading.

Rebound after Yesterday’s Wicked Selloff, Yen Stays Strong Early

Yesterday’s wicked selling on Asian equity Indexes has subsided with investors becoming buyers again early this morning. The Nikkei Index has rebounded with a gain of more than 1 percent today. The Yen has been strong against the U.S Dollar and is close to the 113.00 ratios.

Sold European Trade Balance Results, Inflation Steady in U.K

European Trade Balance numbers on Wednesday beat their expectations with a solid improvement. And the U.K Average Earnings Index came in slightly higher than its estimate. European equities mirrored their global counterparts yesterday with losses. British Retail Sales numbers will be issued today. The Pound has been moderately stronger the past day and is near 1.3170 against the U.S Dollar.

Plentiful Inventory Data for U.S Crude Oil, Technically Driven Commodity

U.S Crude Oil data showed plenty of supply on Wednesday and the price of the commodity remained under pressure. Crude Oil is near 55.00 U.S a barrel and trading could prove technically driven near term.

U.K Sales Data Coming, Philly Fed Business Outlook Today

The Retail Sales numbers from the U.K will attract attention when they are presented at 9:30 GMT.

• 9:30 AM GMT U.K., Retail Sales
• 13:30 PM GMT U.S., Unemployment Claims
• 13:30 PM GMT U.S., Philly Fed Manufacturing Index

Yaron Mazor is a senior analyst at SuperTraderTV.

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