Wall Street will be watched closely by global investors today to see if its positive momentum can be sustained. Producer Price Index statistics will come from the States. Tomorrow the Bank of England is on the calendar, and Industrial Production numbers will come from China.
Moderate Gains on Wall Street, Investors Will React to Inflation Data
The three major Indexes on Wall Street produced moderate gains on Tuesday. Apple held its launch for new products, but its equity languished. Yesterday’s Jolts Job Openings statistics were better than expected. Today’s Producer Price Index could spur impetus in the broad markets if its results miss their inflation target. Tomorrow Core Consumer Price numbers will be published.
Better Manufacturing in Japan, Industrial Production Coming from China
A Business Survey Index reading from the Bank of Japan, regarding Manufacturing showed a significant jump this morning. The outcome of 9.4 was well above the projection of 4.8. The Nikkei has continued to trade in positive territory, extending its positive run this week. The Yen has gotten slightly stronger early this morning and is trading near the 110.00 mark against the U.S Dollar. And important Industrial Production numbers will come from China tomorrow.
Pound has Fast Trading Conditions, German Inflation Rises
The Pound continues to experience fast trading conditions against the U.S Dollar as investors position themselves ahead of tomorrow’s Bank of England pronouncements. And while European equities have been cautious this morning, German inflation number was better than expected today via the Wholesale Price Index. French Consumer Price Index data will be released tomorrow.
Speculation Conditions for Crude Oil, OPEC Cartel Makes Statement
U.S Crude Oil Inventories will be released in the States today. While the numbers will be looked upon by traders skeptically because of the recent storms which have disrupted refineries, Crude Oil could turn speculative. Opec yesterday confirmed it will continue to try and cut production for the time being,
U.S. Inflation Numbers Anticipated, Energy Supply Data from States
The Producer Price Index results from the U.S could prove to be interesting for traders at 12:30 GMT upon their release.
- 12:30 PM GMT U.S., Producer Price Index
- 14:30 PM GMT U.S., Crude Oil Inventories
Yaron Mazor is a senior analyst at SuperTraderTV.
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