U.S. Traders Will Be Watched to See If They Can Maintain Momentum

Global equities have largely been positive in early trading today. This follows the positive momentum from the U.S markets seen on Friday after the better than expected U.S jobs data. Economic data from Asia was disappointing this morning. However, European data was better than their expectations regarding Investor Confidence.

U.S. Employment Numbers Create Momentum

Wall Street produced a winning day before going into the weekend. The positive momentum occurred largely because of the good Non-Farm Employment Change numbers from the States. The gains in the employment figures exceeded their estimate by nearly 50,000 added jobs. While the Average Hourly Earnings missed their forecast slightly, the better jobs perception among investors created a strong reaction in the broad markets. Labor Market Condition Index statistics will be released today. The U.S Dollar has been stronger in forex. U.S investors will be monitored closely by their global counterparts to see if the major equity Indexes in the States can continue to turn in positive outcomes.

Asian Data Weaker, But Equities Steady

Consumer Price Index results from China came in below their estimate earlier, and Japanese Core Machinery Orders data missed their expectations. While the Shanghai Shenzhen put in a slight decline, the Nikkei and Topix Indexes did achieve solid gains today. The Yen has maintained its weaker range against the U.S Dollar and is above the 114.00 mark. Preliminary Machine Tool Orders data will come from Japan early on Tuesday.

Positive Momentum from European Equities

Headwinds have persisted in early trading for the Euro and Pound against the U.S Dollar. After moving higher early on Friday, both currencies started to lose value against the U.S Dollar upon the better than expected jobs numbers from the States. European equities however have done well and have continued their positive momentum today. German Trade Balance numbers met expectations and the European Union’s Sentix Investor Confidence reading showed an improvement this morning.

Fast Condition Remain Prevalent

Gold has continued to deliver tumultuous trading results early today. The precious metal has declined and traded near 1205.00 U.S Dollars an ounce. However, gold bounce back to trade at 1212.25. Fast conditions in Gold remain prevalent and investors should have their risk management tools in place before trading.

More U.S. Jobs Data Today to Examine

Traders will get more jobs data to examine from the U.S when the Labor Market Conditions Index is published at 14:00 GMT.

14:00 PM GMT U.S, Labor Market Conditions Index

19:00 PM GMT U.S., Consumer Credit

Yaron Mazor is a senior analyst at SuperTraderTV.

SuperTraderTV Academy is a leader in investing and stock trading education. Sign up for a class today to learn proven strategies on how to trade smarter.