U.S investors remained cautious on Tuesday as their sentiment appears to be shifting. Traders may be looking forward to jobs numbers and the Federal Reserve. The Nikkei Index has tumbled nearly two percent this morning.
A Sentiment Shift Underway on Wall Street, Looking Ahead to Rate Decision
U.S investors have proven unsatisfied early this week. The major Indexes struggled on Tuesday, and economic data via a Non-Manufacturing Purchasing Manager's Index reading was disappointing. Traders may be looking forward to Friday's official Non-Farm Employment Change numbers and next week's Federal Reserve interest rate decision. However, sentiment on Wall Street has been less than optimistic and global traders are taking notice.
Nervous Trading in Asia Continues, Nikkei Tumbles Almost Two Percent
Australian Gross Domestic Product numbers came in below expectations earlier today. The Reserve Bank of Australia kept their interest rate in place on Tuesday. Asian investors have shown a cautious trading attitude this week. The Nikkei Index has fallen nearly 2 percent this morning and the Yen has been stronger.
Theresa May Mired in Brexit Fight, European Equities Fall Again
European equities remained under pressure on Tuesday. The Footsie has now fallen over 3 percent the past month of trading, while the Dax has tumbled nearly the same amount. U.K political news continues to show Prime Minister May mired in a fight within her coalition government, as she prepares for the Brexit summit next week with the European Union. The Pound and Euro have range traded the past day against the U.S Dollar, and economic data from Europe will be light today.
Gold Breaks Lower, Additional Choppy Trading Ahead
Gold broke lower on Tuesday and is near 1266.00 U.S Dollars an ounce this morning. Reversals have been prevalent in Gold the past two months and the commodity may have additional choppy trading in store for speculators in the days ahead.
Interest Rate Decision from Bank of Canada, Jobs Numbers in U.S Today
Investors will monitor the Bank of Canada's Rate Statement at 15:00 GMT.
- 13:15 PM GMT U.S., ADP Non-Farm Employment Change
- 15:00 PM GMT Canada, Bank of Canada Rate Statement
- 15:30 PM GMT U.S, Crude Oil Inventories
Yaron Mazor is a senior analyst atSuperTraderTV.
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This article was originally posted on FX Empire
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