Nikkei Index Surges to 21 Year High, Bitcoin Above $6400

The Federal Reserve will release its interest rate statement today in the U.S and investors will be braced within the broad markets. Jerome Powell is expected to be named the next Federal Reserve Chairman. Manufacturing data will come from the U.K and States today.

Traders Braced for Busy Day Ahead, Jerome Powell Next Fed Chairman?

The Federal Reserve will release its Monetary Policy Statement today. Most investors do not believe an interest rate will occur, but recent data from the States has created a sliver of doubt among pundits. President Trump is expected to name Jerome Powell as the next Federal Reserve Chairman in the near term. Investors are likely to be content with this choice. Wall Street remains near record highs and traders should be braced for fast trading conditions as the day progresses.

Nikkei Index Resumes Surge, Japanese Equities Adding Value

The Nikkei has resumed its rocket ride skywards early this morning. The major Japanese equities Index has now gained more than 10 percent of value the past month. The Yen has been weaker against the U.S Dollar and is near important resistance. Manufacturing data from Japan beat its estimate slightly today.

Bitcoin’s Record Rally Continues

Bitcoin continues to break record highs as prices above $6400. The fresh round of buying came about due to the announcement of the CME, one of the biggest exchanges in the world, that it would soon be introducing futures contracts for the digital currencies. Bitcoin is trading at $6439 as of 9:00 GMT.

Pound Adding Value against U.S Dollar, Euro Languishing Near Support

A Manufacturing Purchasing Managers Index report will come from the U.K today which could prove important for traders. The Pound has been able to put in additional value against the U.S Dollar and is near the 1.33 level. The Euro, however, has languished as it experiences duress and remains near support around the 1.1630 juncture against the U.S Dollar. European equities put in slight gains on Tuesday.

Crude Oil Inventories Data, Consistent Buying Producing Solid Range

Crude Oil has continued to attain more value and is approaching important resistance. The U.S will release Crude Oil Inventories today. Investors have produced consistent buying the past month for Crude Oil and as the 55.00 U.S Dollars, a barrel level has come into sight.

Federal Reserve on Calendar, Manufacturing Data from U.K.

Global investors will be braced for the U.S Federal Reserve’s release of its Monetary Policy Statement at 18:00 GMT.

• 8:30 AM GMT U.K, Manufacturing PMI
• 14:00 PM GMT U.S., ISM Manufacturing PMI
• 18:00 PM GMT U.S., FOMC Statement

Yaron Mazor is a senior analyst at SuperTraderTV.

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