The G20 meetings will get underway in Buenos Aires, Argentina. Trade and politics will be highlighted and prove important for global investors sentiment.
Trade Balance numbers will come from the E.U and Italy today.
The G20 meetings get underway in Buenos Aires, Argentina today and they will affect investors as pronouncements are delivered. Trade will be one of the key talking points, and the U.S and China will be watched closely as they dance around the issue. And political risk remains heightened and could be magnified due to the G20 – as the U.K and Russia continue to argue publically, and President Trump deals with his own battles regarding ongoing investigations centering on the White House. And not to be outdone, Japan’s growing scandal which is ensnarling Prime Minister Abe and his Finance Minister could have an impact. Asian traders have proven cautious as the Nikkei Index has lost further ground this morning.
Traders should position themselves carefully for the coming days which are certain to provide fireworks. Not only is the G20 taking place today and tomorrow, but the U.S Federal Reserve will issue its monetary policy statement and interest rate decision on Wednesday. Against the U.S Dollar, the Euro remains under 1.23, the Pound is hovering above 1.39 and the Yen is strong as it trades near the 105.80 juncture. The stronger Japanese currency will not help the nation’s economy and should be watched as Japan’s political crisis deepens.
Gold remains vulnerable and near precarious support. The price of the precious metal is near 1312.00 U.S Dollars an ounce and has not been able to sustain any momentum upwards the past week. The next support level which could prove important is the 1303.00 mark if tested.
Trade Balance Data from E.U, G20 Meetings in Buenos Aires
The European Union will release its Trade Balance data at 10:00 GMT and it could provide insights for Euro investors.
Yaron Mazor is a senior analyst at SuperTraderTV.
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Yaron has been involved with the capital markets since 1998. During the past 16 years, Yaron has been a day and swing stocks trader in the American market. Yaron has founded and made successful investments into businesses spanning exciting industries – from apparel to restaurants and bars, to high tech, medical technology, and education.