Wall Street Soars Higher on Good Data
The Non-Farm Employment Change number came in better than expected on Friday. And the increase in hiring caused a positive stir on Wall Street which soared higher. Today the U.S will release its Labor Market Conditions Index report. U.S investors and their counterparts saw rather tranquil results from the G-20 meetings which lasted into the weekend.
Economic Data Misses Estimates in Japan and China
Data from Japan this morning proved negative as the Core Machinery Orders numbers came in below expectations. And China’s Consumer Price Index reading fell short of its expectation too. The Nikkei and Hang Seng Indexes have led gainers in early trading. The Yen has continued to show signs of weakness against the U.S Dollar and is slightly above the 114.00 mark.
Euro Remains near Important Resistance
European equities reversed late on Friday upwards following the momentum from the U.S as better than expected employment data from the U.S sparked risk appetite. The Euro and Pound became volatile against the U.S Dollar. The Sentix Investor Confidence reading will be delivered for the European Union today.
Gold Should Be Monitored
Gold saw another flash crash on Friday and is trading near 1210.00 U.S Dollars an ounce this morning. The precious metal remains dangerous and traders will need solid risk management for short term endeavors, particularly if risk sentiment stays optimistic in the broad markets.
More Jobs Data from U.S. Coming
Following last Friday’s solid job numbers from the States, the Labor Market Conditions Index will get added attention upon its release at 14:00 GMT.
Yaron Mazor is a senior analyst at SuperTraderTV.
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