Traders Showing Resolve as Summer Trading Nears End, Global Stocks Higher

A wave of important U.S data will continue today and tomorrow. Personal Spending and weekly Unemployment Claims will be seen today. Tomorrow the Average Hourly Earnings and Non-Farm Employment Change numbers will be printed. Wall Street has gained and the U.S Dollar has been strong.

U.S. Economy Gaining Momentum, Growth Numbers Beat Expectations

Preliminary Gross Domestic Product numbers from the U.S came in well above their expectations on Wednesday. Weekly Unemployment Claims will be released today, but tomorrow’s Non-Farm Employment Change release, along with the Average Hourly Earnings will be crucial. The strong data show the U.S economy is gaining momentum and could put the Federal Reserve in position for an interest rate hike in December. Wall Street gained on Wednesday and the U.S Dollar remains strong in forex. Traders should take into account there is a holiday in the States on Monday.

Manufacturing Data Improves in China, Nikkei Shows More Risk Appetite

Manufacturing Purchasing Managers Index figures from China this morning beat their forecast. Tomorrow the important Caixin Manufacturing reading will be published for China. Japanese investors have increased their risk appetite, and the Nikkei and Topix have put in gains. The Yen has remained weak against the U.S Dollar and is comfortably above the 110.00 level as resistance is being tested. Capital Spending numbers will come from Japan on Friday.

European Inflation Report Today, European Equities Brighter

German inflation numbers met their target yesterday, but the Euro continued to fall. The Euro is below the 1.19 juncture against the U.S Dollar. The European Union will release its Consumer Price Index report this morning. European equities put in gains on Wednesday. The U.K continues to be embroiled in Brexit arguments, and Net Lending to Individuals data was below its target yesterday. And the Pound is trading near important support. Tomorrow important Manufacturing numbers will come from Britain.

Crude Oil Lingers Near Support, Unknown Variables Bring Worries

Crude Oil continues to linger near 46.00 U.S Dollars a barrel, as trading remains nervous in the energy sector due to the unknown variables regarding the extent of damage to U.S refineries in Texas. Crude Oil may become volatile over the next two days if speculators begin to position themselves for a potential break out higher.

U.S. Data Avalanche Coming, European Inflation Data Today

U.S investors will pay close attention to the Personal Spending data when it is released at 12:30 GMT.

9:00 AM GMT E.U., CPI Flash Estimate

12:30 PM GMT U.S., Unemployment Claims

12:30 PM GMT U.S., Personal Spending

13:45 PM GMT U.S., Chicago PMI

Yaron Mazor is a senior analyst at SuperTraderTV.

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