Asian equities were mixed today. The Euro and Pound have range traded with slight headwinds. The Producer Price Index results will come from the States
Asian equities were mixed today. The Euro and Pound have range traded with slight headwinds. The Producer Price Index results will come from the States today, but tomorrow’s Federal Reserve interest rate decision will impact investors and the broad markets as the day progresses.
Sentiment on Wall Street was cautious on Monday, but buyers still outnumbered sellers across the major Indexes. An important inflation report will come from the States today, but tomorrow’s Federal Reserve interest rate announcement will start to shadow the broad markets in earnest as the hours progress.
It will be a busy day of data early in Asia on Wednesday. Japan will release its Core Machinery Orders results, and a Consumer Sentiment number will come from Australia. Asian equities were mixed today as the Nikkei and Hang Seng Indexes lost slightly, but Australian stocks achieved gains. The Yen has seen very consolidated trading the past day against the U.S Dollar.
Inflation numbers via the Consumer Price Index in the U.K beat expectations today with a gain of 3.1 percent. However, the Retail Price Index for shoppers was lower. The Pound has stayed under pressure this morning against the U.S Dollar as it traverses above the 1.33 mark. A German Economic Sentiment reading released today was below its estimate. German inflation data will be released tomorrow.
Gold remains dangerous to a trader, particularly for speculators who are looking for reversals upwards. The precious metal continues to be pushed around and is braced against an important support level near 1243.00 U.S Dollars an ounce.
Mario Draghi Speaking at Conference, U.S Federal Reserve Tomorrow
The Producer Price Index data from the U.S could prove to be significant for traders upon its release at 13:30 GMT.
Yaron Mazor is a senior analyst at SuperTraderTV.
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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.