US Stocks Recover as Syria Tensions Ease, Q1 Earning Season Begins

Commodities led by U.S Crude Oil have been volatile as the energy tests new highs. Weekly Unemployment Claims will come from the U.S today.

Investors Steady but Caution Prevails Early, Yen Trading in Tight Range

Investors have proven cautious as the U.S and Russia engage in a verbal firefight as tensions in Syria have increased. However, global markets turned in mid-day as the tension in Syria eased after US president Donald Trump mentioned that he did not say when he will the attack happen. In addition, optimism grows in Wall Street as the first quarter earnings season starts today.

The Yen, which is a solid barometer of risk sentiment via Asian investors, traded in a steady range as it hovers slightly above the 107.00 juncture versus the U.S Dollar. The Japanese Yen gained 0.57%, trading at 107.40 at the time of writing.

Wall Street did lose steam yesterday and gave up some ground, but this followed a strong start to the week for equities. Yesterday’s Consumer Price Index from the States produced another lackluster outcome but was overshadowed by world events. Today Unemployment Claims data from the U.S will be released.

Fed Minutes Reveal Hawkish Attitude, U.S Dollar Consolidated Past Day

Forex has proven remarkably unaffected as geo-political concerns swarm the broad markets. The U.S Dollar has remained in a consolidated mode the past 24 hours. The Federal Reserve’s Monetary Policy Meeting Minutes report issued last night provided additional hawkish statements from the U.S central bank. Essentially the publication warned the Fed is ready to remain vigilant and will not hesitate to raise interest rates to make sure inflation does not heat up too much, and the U.S economy maintains a stable pace of growth.

Tensions Fuel Volatility in Energy Sector, U.S Crude Oil Testing New Highs

U.S Crude Oil has been fueled by tension in the Middle East and the commodity has broken through resistance, as it tests new highs above 67.00 Dollars a barrel. It is a certainty that higher oil prices will spark more production of Natural Gas in the States. Speculative forces are certain to be active in U.S Crude Oil and the energy sector will remain rapid.

U.S Weekly Employment Statistics, BoE Speech in Canada Today

Bank of England Governor Mark Carney will be speaking in Canada starting around 19:00 GMT, and this could influence the Pound.

• 11:30 AM GMT, E.U, ECB Monetary Policy Meeting Accounts
• 12:30 PM GMT, U.S, Unemployment Claims
• 19:00 PM GMT, U.K, BoE Mark Carney Speaking in Canada

Yaron Mazor is a senior analyst at SuperTraderTV.

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