Important CPI data will come from the U.S tomorrow, along with the U.K's Annual Budget Release which will impact forex.
Risk Appetite Awakens in Asia, Inflation Data will Prove Crucial Tomorrow
Risk appetite has reignited among Asian investors early this morning as the Nikkei Index, Hang Seng composite and other major equity exchanges have achieved stellar results. Asian investors have followed in the footsteps of their American counterparts who produced excellent gains on Wall Street before going into the weekend. While U.S Non-Farm Employment Change numbers were good, wages in the States remained unimpressive. The disappointing data via the Average Hourly Earnings sets the stage for important inflation statistics which will be delivered with the publication of the Consumer Price Index figures tomorrow. European equities appear optimistic early today.
U.S Dollar Weaker in Early Trading, Pound Speculators Ready for Action
The U.S Dollar has been slightly weaker this morning, which follows Friday's fractional losses against most major currencies. The Federal Reserve certainly remains a talking point among traders, who question how many times the U.S central bank will be able to raise interest rates this calendar year. It should also be noted the U.K will issue its Annual Budget Release tomorrow which will certainly cause a storm for the Pound. Early indications from Britain have said the U.K budget will show a better bottom line and this may get the attention of bullish Pound speculators.
U.S Crude Oil Jumps in Value, Resumption of Higher Values?
U.S Crude Oil proved capable of putting in an impressive day of gains on Friday. After being under pressure much of last week and since the beginning of March, the commodity jumped above 62.00 U.S Dollars a barrel and may be ready to resume a test of higher values within its mid-term range.
U.S Budget Report Coming, Eurogroup Meetings in Brussels
The U.S Federal Budget Balance will get some glances when it is released later at 18:00 GMT.
- All Day E.U, Eurogroup Meetings in Brussels
- 18:00 PM GMT U.S, Federal Budget Balance
Yaron Mazor is a senior analyst at SuperTraderTV .
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This article was originally posted on FX Empire
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