Record Highs Become Routine for the Dow Jones, Markets are Ready for The Ninth Straight Day of Records

Federal Reserve member Kashkari will speak later today. The U.S Dollar has given back some of the gains it made on Friday following the positive jobs data. Tomorrow Trade Balance numbers will come from China.

Fed Member Kashkari Speaking, Inflation Numbers Remain Key

Although Wall Street put in gains on Friday and the Dow Jones Industrials is near the 22,100 level, investors appear to remain cautious via the NASDAQ and S&P as their moves continue to lag slightly. The U.S Dollar did gain in forex before going into the weekend on the heels of the positive jobs numbers, but the Federal Reserve continues to signal inflation is not strong enough. Fed member Neel Kashkari will speak at a conference today and his remarks will be studied by traders. U.S equities will be watched carefully by global investors in the coming days.

China Trade Balance Report Tuesday, Nikkei and Topix Post Gains

Asian Indexes put in polite gains today following in the footsteps of their U.S counterparts, per the solid U.S job numbers. Japanese equities are testing important long-term highs and investors will be watched carefully this week to see if their risk appetite has enough staying force to continue their upwards momentum. Trade Balance numbers will come from China tomorrow. The Yen has range traded this morning, after losing value against the U.S Dollar on Friday, and resistance around 111.00 remains strong. A Leading Indicators report from Japan this morning showed a slight improvement with an outcome of 106.3%.

Halifax Home Price Index Improves, Pound and Euro Stable Early

The Halifax Home Price Index came in slightly above projections with a result of 0.4%, compared to its estimated gain of 0.3%. The better data from the U.K will be welcomed after last week’s lackluster reports. The Pound has recovered slightly after its sell off on Friday, and comfortably above the 1.30 level against the U.S Dollar. German Industrial Production numbers this morning proved negative, but the Euro has also sported gains against the U.S Dollar early.

Fighting Off Selling Pressure, Reversals Dominate Crude Oil

Crude Oil has seen a tight range the past couple of trading sessions as technical reversals off support and resistance have dominated trading. 49.00 U.S Dollars a barrel appears to be important support. The commodity has fought back from selling pressure since the middle of last week, and traders may continue to seize upon short-term opportunities.

Yaron Mazor is a senior analyst at SuperTraderTV.

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