Wall Street Set for a Nervous Week of Trading

NASDAQ Struggling – Investors Show Nervousness

The NASDAQ continued its recent string of losses on Friday, but the Dow Jones Industrials and S&P put in gains. The past month has seen the NASDAQ still gain over 1%, while the Dow Jones has almost gained 3%. However, the past week of trading on Wall Street may be indication investors are becoming nervous as the markets hover near record territories, and Washington politics remain messy. Economic data will be very light today from the States, but William Dudley the New York Federal Reserve President will be speaking at a conference today and offer his opinions on the U.S economy.

Asian Equities Advance to Start Week – Yen Slightly Weaker Against U.S. Dollar

Japanese Trade Balance figures this morning came in with a disappointing figure. The Yen has traded slightly weaker against the U.S Dollar and the 111.00 level continues to get attention. The Conference Board will release its Leading Index data for China tomorrow. Asian equities have gained well early this morning, with the Hang Seng and Shanghai Shenzhen leading the way. Early on Wednesday the All Industries Activity data will come from Japan and prove noteworthy.

Macrons Has Strong Mandate – Euro Range Trading

The election results from France on Sunday have handed French President Emmanuel Macron a strong mandate to govern. However, the rate of absenteeism was well above 50% in this vote which could signify, Macron will have to get things done quickly or could see opposition flourish. The Euro has range traded the past week against the U.S Dollar and the 1.12 mark remains a focal point. European equities finished with gains before going into the weekend, but most European exchanges have been negative the past month except for the Dax. The Pound has also range traded against the U.S Dollar as British politics factor into the equation.

Gold near Important Support – Gold’s Range on Display

Gold will get attention today from traders who have a taste of adventure. The precious metal has been taken lower the past week. Support seems to be the 1250.00 U.S Dollars an ounce juncture. However, Gold has displayed a wide price differential as it has range traded as high as 1270.00 U.S Dollars an ounce only a week ago.

Yaron Mazor is a senior analyst at SuperTraderTV.

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