US Futures Rise as Dollar Strength Still Causing Market Tension
Shanghai Shenzhen Soars, German Factory Orders Disappoint
Most Asian Indexes struggled today and were not able to advance, however the Shanghai Shenzhen composite did turn in stellar gains. The Dow Jones Industrials, S&P, and NASDAQ finished last week with a solid day on Friday, but investors remain extremely cautious on Wall Street and have turned in only fractional gains the past month. US futures point to a higher opening.
German Factory Orders this morning proved negative, and this will not be welcomed news. However, because the Euro and Pound remain vulnerable, equities on the European continent have actually produced better gains, and their monthly performance has been good. But the question global investors want to see answered is if the Americans can start the week positively on Wall Street.
U.S Dollar Rebounding this Morning, PPI & CPI Wednesday & Thursday
The U.S Dollar has gotten stronger the past few hours against the Euro, Pound, and Yen. After showing signs of stability late last week, forex has proven volatile this morning as important technical ranges show a sustained U.S Dollar trend.
Inflation data from the States which will be published this Wednesday and Thursday will be vital from the Producer Price Index and Consumer Price Index respectively. The Euro is trading near 1.1930 and long-term support is being tested.
Gold Could Attract Speculative Traders, Under a Barrage of Pressure
Gold has come off early highs this morning and is around 1312.00 U.S Dollars an ounce. The precious metal staged a solid rally late last week, but the commodity remains well within the lower boundaries of its mid-term range. Speculators will remain active in Gold as the U.S Dollar gyrates in forex.
U.S Consumer Spending Habits, Japanese Household Numbers Late Tonight
The U.S Consumer Credit report will deliver insights for investors at 19:00 GMT.
- 19:00 PM GMT, U.S, Consumer Credit
- 23:30 PM GMT, Japan, Household Spending
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.