The U.K’s Public Sector Net Borrowing results were slightly better than expected. Canadian Retail Sales will be released today. Investors remain focused on Jackson Hole and its meetings which will start on Thursday. Wall Street had mixed trading on Monday as U.S traders continue to display fragile sentiment.
NASDAQ and Fragile Sentiment, Central Bankers Awaited On
Economic publications will remain very light. However, North American traders can look at Canadian Retail Sales figures today for data. Wall Street continued to produce lackluster trading on Monday with mixed results. The Dow Jones put in fractional gains, but the NASDAQ displayed fragile sentiment. New Home Sales will come from the States tomorrow. Many traders are looking forward to the Jackson Hole economic summit which will start on Thursday in the States with the world’s leading central bankers attending. US futures are set to open higher as risk off sentiment fades.
Nikkei Stumbles Lower, Hang Seng Powers Upwards
The Nikkei Index was not able to sustain early gains today and slumped at the end of its trading session in Tokyo. The Yen has traded slightly weaker against the U.S Dollar. However, the Hang Seng continues to prove bullish and has gained over 2.7% the past month. The Conference Board will release its Leading Index numbers for China today, and early tomorrow a Manufacturing PMI report will come from Japan.
FTSE and DAX Open Higher, Euro & Pound Continue to Reverse
Public Sector Net Borrowing statistics from the U.K came in slightly better than expectations, and a German Economic Sentiment reading has been released too. The Pound and Euro continue to face tests from the U.S Dollar as traders create steady technical reversals. Tomorrow a slew of Manufacturing and Service Purchasing Managers Index reports will come from France and Germany. European equities have turned in moderate gains early this morning, with the DAX and FTSE 100 leading the pack.
Gold Taken Lower Early This Morning, Speculators Take Profits
Gold has been pushed back in early trading this morning. The precious metal has seen speculators take advantage of its higher values and take profits, which has brought the price of Gold near 1285.00 U.S Dollars an ounce. Fast conditions are likely to pervade the commodity in the coming days if traders remain nervous.
Consumer Spending from Canada, China Economic Data
Canadian Core Retail Sales figures could prove interesting for trading upon their release at 12:30 GMT.
12:30 PM GMT Canada, Core Retail Sales
13:00 PM GMT China, CB Leading Index
Yaron Mazor is a senior analyst at SuperTraderTV.
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