Markets Tentative But Sentiment Improves as Trade War Tensions Fade, US Futures Rise

Market conditions remain rather tentative, but Asian equities did well this morning except for a slight reversal in China which produced declines. Global stocks followed Asian markets including Wall Street.
Yaron Mazor
stocks rise

Crude Oil is trading near lows. The U.S Dollar has been stable, but tomorrows PPI report will prove important.

Asian has Solid Performance after Wall Street’s Sea of Red, China Reverses

Equities in Asia were mostly positive, except for the Shanghai Shenzhen composite which reversed from highs and finished with fractional losses. Following in the steps of Friday’s sea of red from Wall Street, Asian equities performed well today. And European markets have opened with gains. U.S Future Markets are positive early. However, some analysts continue to point to bond curves in the States, which show an increasing amount of investors moving into U.S Treasuries on the belief U.S bond yields will increase. Consumer Confidence numbers from Japan were below their estimate earlier today, but the Economy Watchers Sentiment report from the nation did better than expected. Data will be very light from the States today, but the key inflation statistics on the calendar for tomorrow have traders nervous.

Waiting on Inflation Data before Taking Action, Dollar Rather Range Bound

The Euro has been weaker against the U.S Dollar early today, but the Pound has actually gained. The Yen remains weak and is testing important resistance against the Dollar and is above the 107.00 juncture. Tomorrow’s Producer Price Index data from the States, will be followed on Wednesday by the Consumer Price Index figures. These two reports could cause an impact if the outcomes do not match expectations. The U.S Dollar has been fractionally stronger the past week, but has not put in massive gains and remains rather range bound as investors appear to be waiting for the coming inflation data before they take action.

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U.S Crude Oil Testing Vital Support after Decline, Buying Opportunity for Oil?

U.S Crude Oil remains near vital support as it hovers over 62.00 U.S Dollars per barrel. The commodity suffered a downturn on Friday as fears escalated in the broad markets regarding the China and U.S trade debate. However, U.S Crude Oil has proven to be in a consolidated range the past few months and speculators may see current values as a buying opportunity.

Housing Data from Canada, Bank of Canada Business Report

The Bank of Canada Business Outlook Survey could provide insights for traders of the Canadian Dollar at 14:30 GMT.

  • 12:15 PM GMT, Canada, Housing Starts
  • 14:30 PM GMT, Canada, Bank of Canada Business Outlook Survey

Yaron Mazor is a senior analyst at SuperTraderTV.

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