Wall Street Ready after Long Holiday Weekend, US Futures Lower

German Producer Price Index figures were higher than expected. Tomorrow the Bank of England will take part in Inflation Hearings.

Global Inflation is Stirring, Wall Street Expected to Open Lower

Inflation data remains a focal point for investors. The German Producer Price Index this morning provided further fuel for traders who believe global central banks will soon have to deal with rising prices. The PPI result from Germany climbed 0.5% compared to the estimated outcome of 0.3%. And last night from New Zealand, the Producer Price Index figures were also elevated. The rising costs of global commodities may slowly be starting to have an effect on inflation. The U.S will be light on economic data today, but the return of investors in the States after the long holiday weekend will provide impetus, and Wall Street will be watched intently. European equities have been tentative this morning, and Asian Indexes struggled. The three major exchanges in the U.S are expected to open lower via indicators from Futures Markets.

Bank of England in an Uneasy Position, Pound Remains Troublesome

The U.K will conduct Inflation Hearings tomorrow and they will prove insightful. Forex has been just as volatile as global equities the past few weeks. The Bank of England is trying to get their hands around rising inflation, within an economy that is not growing enough to warrant aggressive interest rate hikes. The U.K is in an uncomfortable position and a lack of clarity because of the Brexit is not helping. The Pound has been weaker against the U.S Dollar and is near the 1.3960 level. The Euro has been range trading, along with the Yen against the slightly stronger U.S Dollar.

Suspicious Declines in Gold, Speculators Ready for Market Gyrations

Gold has remained under a cloud early and is near 1338.00 U.S Dollars an ounce. However, traders would be wise to keep their eyes on the opening of U.S markets and see if increased volumes cause sudden gyrations in the coming hours. The precious metal’s decline may be viewed as suspicious by speculators.

E.U Consumer Data Coming, Canadian Wholesale Statistics Today

The European Union will issue Consumer Confidence numbers at 15:00 GMT, which could prove noteworthy for investors if there is a surprising result.

• 13:30 PM GMT Canada, Wholesale Sales
• 15:00 PM GMT E.U, Consumer Confidence

Yaron Mazor is a senior analyst at SuperTraderTV.

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