U.S. Dollar Gains Cautiously And Apple Issues Solid Numbers

Apple Impresses Analysts, Jobs Numbers Begin Today

Personal Spending data from the U.S met its lackluster target yesterday and other economic data essentially matched their estimates. Apple released their quarterly report late on Tuesday and analysts have responded positively. Today jobs numbers will come via the ADP’s Non-Farm Employment Change. Today’s numbers will serve as an important precursor to Friday’s official jobs numbers from the States. Wall Street posted moderate gains in all three major Indexes yesterday. And the U.S Dollar has shown the ability to cautiously add value the past day.

Yen Weaker This Morning, Japanese Equities Post Moderate Gains

The Yen has been weaker in early trading this morning as the U.S Dollar has shown some resilience. Japanese equities have been positive as the Nikkei and Topix have put in conservative gains. However, the Shanghai Shenzhen composite has seen some selling. China will see the Caixin Services PMI report tomorrow.

U.K. Data Improves, Pound Awaits Bank of England Tomorrow

The Manufacturing Purchasing Managers Index results from the U.K yesterday generated an outcome of 55.1, which was better than its estimate. European PMI data from France and Germany on Tuesday was disappointing. Today Construction PMI numbers will come from Britain. The Pound remains near the 1.32 ratio. Tomorrow the Bank of England issue their Inflation Report and Monetary Policy Summary. European equities finished yesterday with a positive trading session.

Short Term Selling Pressures for Gold, Early Headwinds Send Gold Lower

The precious metal has seen selling pressure early this morning and the 1270.00 U.S Dollars an ounce juncture may factor into speculative trading today. Gold is likely to see a test of its recent strength short term, if the U.S Dollar continues to attract buyers.

Yaron Mazor is a senior analyst at SuperTraderTV.

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