Wall Street is in record territory and manufacturing figures from the States were rock solid on Wednesday. The U.S Dollar has been stable.
Record Territory Produced by Investors, New Year Starting with a Bang
Wall Street has started the New Year with a bang as investors continue to buy into the major Indexes and produce record-breaking territory. Manufacturing data from the U.S proved strong yesterday, and the Fed’s Meeting Minutes provided little in the way of surprises. Risk appetite remains strong in the States. And weekly jobs data will come from the States today, and tomorrow the Non-Farm Employment Change statistics are on the schedule.
Nikkei Surges Playing Catch Up, Impressive Service Data from China
After being closed the past three days for holidays, the Nikkei and Topix Indexes have surged upwards in Japan. The Nikkei has gained well over two percent this morning with impressive trading. It must be noted too, China produced a very encouraging Caixin Services Purchasing Managers Index result. And the Shanghai Shenzhen and Hang Seng composites have also gained.
European Equities Gain across Board, CPI Data from Europe Tomorrow
Services PMI data will come from Europe and the U.K today. Equity Indexes proved capable of putting in strong gains on Wednesday as they mirrored their American counterparts. The Euro and Pound have range traded against the U.S Dollar, but have sustained most of their gains made the past week. Important Consumer Price Index figures will come from the E.U tomorrow.
Gold Ready to Become Volatile, Resistance Proves Strong for Precious Metal
Gold appears ready to turn volatile the next couple of days. After attaining important highs, the precious metal has faced resistance. Gold is near 1310.00 U.S Dollars an ounce and needs to be treated carefully by traders’ short term.
Services Data from E.U and U.K, Crude Oil Inventories Data from States
The U.K will release its Services Purchasing Managers Index reading at 9:30 GMT and traders will react to its outcome.
- 9:00 AM GMT E.U., Final Services PMI
- 9:30 PM GMT U.K., Services PMI
- 16:00 PM GMT U.S., Crude Oil Inventories
Yaron Mazor is a senior analyst at SuperTraderTV.
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