U.S. Dollar Stays Strong and Federal Reserve Report will Impact Markets

U.S. Economic Data Strong

Retail Sales figures were stronger than anticipated in the States on Tuesday, and the Empire State Manufacturing Index reading turned in a significantly better result than forecasted. Today the catalyst in the broad markets will be the publication of the Federal Reserve’s Meeting Minutes report. The U.S Dollar has been strong early this week and investors will look over the Fed’s report in search of clues regarding the U.S central banks next interest rate hike.

Japanese Data Showing Improvement

Asian investors have turned in mixed trading early on the major equity Indexes. A cautious approach has been taken after Tuesday’s climb higher. Trade Balance numbers will come from Japan early on Thursday. Japanese economic figures have shown improvement the past week, but the Nikkei Index has experienced headwinds the past month and is down about 1.80% percent the past month.

U.K. Inflation below Expectations

German Gross Domestic Product figures were weaker than their estimate on Tuesday and U.K inflation data did not meet it forecasted estimates. Today employment figures will come from Britain, which will be highlighted by the Average Earnings Index. Yesterday’s shortfall via inflation statistics helped propel the Pound lower. And the Euro also fell on the lackluster German results via its growth data.

Gold Slightly Lower Early, Still Near Highs

Gold has continued to face selling pressure. After touching important highs late last week, the precious metal has been pushed lower, but this has coincided with the renewed strength in the U.S Dollar. Speculation remains evident in the gold market and its value is still within the higher boundaries of its mid-term range as it traverses near 1280.00 U.S Dollars an ounce.

Yaron Mazor is a senior analyst at SuperTraderTV.

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