Trading has returned to full volume today as core investors have returned from their holidays. The Euro and Pound have been firm in early trading. Fed Member Neel Kashkari will speak today. German Trade Balance numbers were positive.
Wall Street Riding High, Fed’s Outlook Intrigues Investors
It will be a relatively light day of economic data from the States, but Federal Reserve member Neel Kashkari will deliver a speech today regarding economic conditions. The Fed will also release its Meeting Minutes report tomorrow, which will prove intriguing for investors as they try forecasting the U.S central bank’s mid-term plans regarding interest rates. Wall Street proved cautious yesterday as light trading pervaded, but full volume will return today and the Dow Jones Industrials is still riding high.
Nikkei Marches Higher Again, Yen’s Tight Range Proving Remarkable
Japanese investors returned from their long weekend with buying still on their minds. The Nikkei Index has now gained more than 8 percent the month, and the Yen remarkably has remained in a tight range against the U.S Dollar and is the near 112.55 juncture. The Economy Watchers Sentiment reading from Japan was better than expected with a result of 51.3.
French Industrial Numbers Disappoint, Euro and Pound Firm
German Trade Balance numbers released this morning proved better than anticipated. However, France has posted disappointing Industrial Production results with a minus -0.3% outcome. The U.K has posted its Manufacturing numbers also. The Euro and Pound have remained firm early against the U.S Dollar, and European equities have seen cautious trading with slight loses.
Sustained Short Term Gains in Gold, Upwards Momentum Early
Gold has continued to find takers early this morning and its price is near 1287.00 U.S Dollars an ounce. The precious metal has come off lows and been able to sustain short-term momentum. Traders may continue to look for some upside from Gold if they are speculating.
Neel Kashkari Fed Speech Today, Canadian Housing Sector Data
U.S Federal Reserve member Neel Kashkari will be speaking at 14:00 GMT in Minneapolis today.
- All Day E.U., ECOFIN Meetings in Brussels
- 12:30 PM GMT Canada, Building Permits
- 14:00 PM GMT U.S., Fed Member Kashkari Speaking
Yaron Mazor is a senior analyst atSuperTraderTV.
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This article was originally posted on FX Empire
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