U.S Dollar Strong as Treasury Yields Rise, Earnings Reports in Focus

A busy earnings reports week is ahead of us with Alphabet, Facebook, Twitter, and other tech giants in focus. Existing Home Sales numbers will come from the States today. The ECB is later this week. And the U.S will publish GDP results on Friday.

Cautious Mode Greets European Markets, German Manufacturing Improved

European equities have started tentatively, proving broad market sentiment remains in a cautious mode. The Footsie and Dax have not been able to make significant gains, even as their respective currencies have become cheaper. The Pound and Euro remain under pressure against the U.S Dollar and are testing important support levels. German Manufacturing figures were better than expected via the Purchasing Managers Index, and Services numbers provided a slightly better result than forecasted. Wall Street struggled on Friday and is expected to have moderate losses when the three major Indexes open via early calls from the Futures Markets. Asian stocks declined slightly today, with the Nikkei and Hang Seng losing ground.

A busy week starts today with Google, Facebook, Amazon, eBay, Paypal, Twitter, Microsoft and more will release first quarter reports.

European Central Bank Plays Waiting Game, Patience Needed for Reversals

The U.S Dollar has been strong the past few trading sessions, which opens the door to speculative action developing the remainder of this week. The European Central Bank will make its Monetary Policy pronouncements and hold their monthly Press Conference on Thursday. However, in developing news the ECB has let it be known via leaks, that it wants more time to analyze the economy of the European Union and will sit tight with its polity until July. Recent inflation data from the continent has been soft. Traders seeking reversals in forex will need to practice risk management over the next several days, and they should also keep in mind U.S Gross Domestic Product numbers will be released this Friday which will certainly shake the broad markets.

Analysts Clamoring for Higher Crude Oil, Buyer Active in Energy Sector

U.S Crude Oil is challenging long-term values and is attracting attention from a variety of commodity players. Hedge fund analysts are clamoring around the commodity with the belief it could climb up to 80.00 U.S Dollars per barrel. For the moment U.S Crude Oil is near 68.00 Dollars and should be monitored.

Canadian Wholesale Statistics, U.S Manufacturing & Services Data Coming

Existing Home Sales data will come from the U.S at 14:00 GMT and investors will be interested to see the report’s outcome.

• 12:30 PM GMT, Canada, Wholesale Sales
• 13:45 PM GMT, U.S, Flash Manufacturing PMI
• 14:00 PM GMT, U.S, Existing Home Sales

Yaron Mazor is a senior analyst at SuperTraderTV.

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