Nervous Sentiment as Traders Turn Cautious
Global equities have produced mixed results. While the Dow Jones Industrials is approaching a historic level, tech stocks tumbled on the NASDAQ. Consumer Price Index numbers will come from Europe today and could have an impact on the broad markets.
NASDAQ Tumbles Lower, Tech Stocks Take a Beating
While the Dow Jones Industrials made incremental gains yesterday and continues to approach the 24,000 level, the NASDAQ has proven a snake pit. The tech-laden index suffered over a 1 percent loss yesterday and has investors on edge. Growth numbers in the States met expectations yesterday, and today Personal Spending data will be released.
China Manufacturing Data Improves, Tentative Trading on Asian Exchanges
Manufacturing Purchasing Managers Index numbers from China came in slightly better than anticipated early this morning. However, the Shanghai Shenzhen composite has remained cautious with slight selling. Housing Starts data from Japan produced a steep decline today. The Yen has lost value against the U.S Dollar and is near the 112.00 juncture.
Pound Surges as Euro Stays Calm, European Data Could have an Impact
The Pound has experienced a surge in value this week and is above the 1.34 level against the U.S Dollar on whispers of a potential Brexit agreement. However, the Euro has remained a calm trading ground, but that could change today when the European Union releases important inflation data. European equities were mixed yesterday.
The Necessity for Risk Management, Gold’s Roller Coaster Ride
Gold tested the nerves of traders on Wednesday as it experienced a roller coaster day of values. The precious metal is near 1280.00 U.S Dollars an ounce and speculation remain high. Risk management is a necessity if you are considering a Gold trade.
European Inflation Numbers, Spending Data from States
The Consumer Price Index numbers from the European Union will be published at 10:00 GMT and impact trading sentiment.
- 10:00 AM GMT E.U., CPI Flash Estimate
- 13:30 PM GMT U.S., Unemployment Claims
- 13:30 PM GMT U.S., Personal Spending
Yaron Mazor is a senior analyst at SuperTraderTV.
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