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U.S Dollar Losing Additional Ground, Gold Continues Rising

By:
Yaron Mazor
Published: Jan 24, 2018, 08:35 UTC

Wall Street’s mixed day of trading has put Asian investors in a cautious mode early today. Manufacturing numbers will come from Europe.

gold

Trade Balance results from Japan came in below estimates earlier. Gold has been strong and the U.S Dollar has been weak.

Trump’s Arrival in Davos Anticipated, U.S Dollar Remain Weakened

President Trump is scheduled to leave for the Davos World Economic Forum in Switzerland today and investors are anticipating his participation. Existing Home Sales data will come from the U.S, but it is the growth numbers due on Friday which are in focus. Wall Street had a mixed day of trading yesterday and the U.S Dollar continues to remain weak.

Trade Balance Falls in Japan, Asian Equities Stumble in Early Trading

Asian equities have stumbled this morning, but this follows a strong day of gains yesterday. Japanese manufacturing data beat its estimate, but its Trade Balance numbers did fall. The Yen has been strong against the U.S Dollar and is below the 110.00 level. And it should be noted, the Hang Seng Index from Hong Kong has gained more than eleven percent the past month.

Expensive Euro and Pound Challenge Equities, U.K Data on Calendar

European equities will prove interesting today. The climb in values the Euro and Pound have achieved against the U.S Dollar, makes buying equities a more expensive endeavor for investors in Europe. Manufacturing data will come from the European Union today, and the U.K will issue Average Earnings Index figures. Tomorrow the ECB will deliver their monetary policy statement.

Speculators Gaining Courage, Commodities Gains Strong across Board

Commodities continue to produce demand across the board. Gold and Crude Oil have put in solid gains and their trends look strong. Gold is above 1340.00 U.S Dollars an ounce, while Crude Oil is above 64.50 Dollars a barrel. And speculators appear to be gaining buying courage.

European Manufacturing Surveys, Housing Data from States

Investors will look at the results of the Manufacturing Purchasing Managers Index via the European Union at 9:00 GMT.

  • 9:00 AM GMT, E.U, Flash Manufacturing PMI
  • 9:30 AM GMT, U.K, Average Earnings Index
  • 15:00 PM GMT, U.S, Existing Home Sales

Yaron Mazor is a senior analyst at SuperTraderTV.

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About the Author

Yaron Mazorcontributor

Yaron has been involved with the capital markets since 1998. During the past 16 years, Yaron has been a day and swing stocks trader in the American market. Yaron has founded and made successful investments into businesses spanning exciting industries – from apparel to restaurants and bars, to high tech, medical technology, and education.

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