Wall Street Showing Signs of Building Momentum, US Futures Up as N-Korea Tensions Ease

Global equities continue to show signs of positive momentum. Japan turned in a solid Industrial Production number, but inflation data from the U.K was negative via the CPI report. Retail Sales figures will come from the U.S today.

U.S. Consumer Insights Today, Late Summer Rally Developing?

Wall Street has been able to turn in a few positive trading sessions consistently. Although the major Indexes remain below their record heights, buyers have been prevalent and positive momentum is showing signs of creating a late summer rally. Retail Sales statistics will be released today and get attention regarding American spending habits, which will give investors insights about the publics’ confidence level in the U.S economy. Also, the Empire State Manufacturing Index will come from the New York Fed today.

Solid Economic Data from Japan, Risk Sentiment Improving

Risk appetite has resurfaced in Asia after last week’s tensions regarding North Korea have seemingly eased, the Yen has continued to become weaker against the U.S Dollar. The Yen has seen its strong trend reverse in the short-term. Revised Industrial Production numbers from Japan beat their expectations today, and has added positive sentiment for Asian traders who saw better growth numbers from the nation yesterday. The Nikkei Index has gained over 1 percent today.

Inflation Misses Target in U.K, Pound Near Crucial Support

Inflation data from the U.K has proven disappointing this morning. The Consumer Price Index missed its target, and the Producer Price Index also proved weak. The Pound has remained under pressure and the 1.29 area is in focus as a support level against the U.S Dollar. The FTSE 100 and DAX Indexes however, have maintained yesterday’s positive gains and produced early buying. Tomorrow employment data will come from Britain.

Support Levels Being Tested, Selling Strong in Crude Oil

Crude Oil has remained under selling pressure this morning. The commodity has seen headwinds as speculators have begun to test important support near 47.00 U.S Dollars a barrel. Crude Oil Inventories data will come from the U.S tomorrow.

Yaron Mazor is a senior analyst at SuperTraderTV.

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