Markets Stable Ahead of UK Inflation Report and FOMC Meeting Minutes

U.K Inflation Report Hearings will get underway soon and the U.S Federal Reserve will issue its FOMC Meeting Minutes later. The broad markets will react and forex is expected fast conditions.

Equities Cautious in Europe, Nikkei Index Reverses Higher After Rough Start

European equities have opened with losses following the declines produced on Wall Street yesterday. Manufacturing and Service Purchasing Managers Index numbers from the European Union came in below expectations from France and Germany, but the surveys still suggest solid expansion. The Nikkei Index reversed higher after opening with a decline. Japanese manufacturing data also came in below its forecast today. Wall Street appears set for a mixed opening. Global investors may be taking a wait and see approach to equities as they await the Federal Reserve’s important Meeting Minutes publication later.

Mark Carney Will be Asked Tough Questions, Pound Whipsawing Early

The Euro has experienced slight selling versus the U.S Dollar, and the Pound has produced fast and whipsaws movements. Investors are bracing for the U.K Inflation Report Hearings which will get underway soon. Bank of England Governor Mark Carney will be in the spotlight and is certain to face tough questions from the Parliament’s Treasury Committee. Forex is likely to see a fierce wave of price action and increased volume in the coming hours as investors react to the U.K hearings and the U.S central bank’s report this evening.

Gold Could React to Interest Rate Outlook, Support Being Challenged

Selling pressure has continued to impact Gold. The price of the precious metal is near 1326.00 U.S Dollars an ounce and it near important support levels. Further volatility should be anticipated in Gold, as traders react to technical indicators and the potential for surprises regarding the Fed’s interest rate outlook.

Fed Report will Impact Broad Markets, U.K Inflation Hearings Start Soon

The Federal Reserve’s Meeting Minutes will be released at 19:00 GMT and have an impact on the broad markets immediately.

• 14:15 PM GMT U.K, Inflation Report Hearings
• 19:00 PM GMT U.S, FOMC Meeting Minutes

Yaron Mazor is a senior analyst at SuperTraderTV.

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