Philly Fed President Harker signaled his belief that the Federal Reserve will hike its interest rate in December. The Pound falls on developing political news from the U.K regarding Prime Minister Theresa May. China Industrial Production data will be released on early Tuesday.
Dow Jones Expected to Resume Decline, Fed President Signals Hike
The Dow Jones Industrials is expected to resume its short-term downward trend upon opening today based on the Futures Markets. Investors remain nervous regarding Washington’s inability to offer a clear tax reform package. The U.S Dollar has been solid in forex. Philly Fed President Harker re-iterated his belief the Federal Reserve will increase its interest rate in December. A budget report will be published in the U.S today, and investors are looking forward to inflation data which will be published mid-week in the States.
Nikkei and Topix Indexes Tumble, Investors Await China Data Tomorrow
Mixed trading was produced via the Asian equity Indexes today. While the Nikkei and Topix exchanges tumbled, the Hang Seng and Shanghai Shenzhen gained. Important Industrial Production data will come from China early tomorrow which will impact the markets, particularly if there is a surprising result.
May’s Grip on Power Vanishing, Tories Have Lost Faith in Prime Minister
Worries about an imminent collapse of U.K Prime Minister May’s leadership has affected the Pound in early trading. A published report this weekend indicated the important conservative wing of the Tories has lost faith in the Prime Minister, and her grip on power may be challenged with a no-confidence mandate from her own political party which could seek to change leadership. German Wholesale Prices this morning was published and missed their estimate. The Euro has been slightly weaker against the U.S. Dollar.
Precious Metal Firms Short Term, Speculative Traders Watching Gold
Gold has become firm this morning after initially being taken lower. The precious metal remains beneath 1280.00 U.S Dollars an ounce, but gold has produced a solid short-term range and may attract speculative elements this week.
Treasury Department’s Budget Report, China Industrial Production Tomorrow
Investors will examine the Federal Budget Balance report published in the U.S at 19:00 GMT.
- 17:45 PM GMT Japan, Bank of Japan Governor Kuroda Speaking
- 19:00 PM GMT U.S., Federal Budget Balance
Yaron Mazor is a senior analyst at SuperTraderTV.
SuperTraderTV Academy is a leader in investing and stock trading education. Sign up for a class today to learn proven strategies on how to trade smarter.