The Producer Price Index will be published in the States. Retail Sales were strong in Australia.
Surprise Inflation Result Could Shake Market, Wall Street Selling Meek
The U.S Federal Budget Balance report will be published later today, which could become a lightning rod for political debate. The Producer Price Index, however, could get the most attention if there is a surprise via its inflation ratios. Wall Street experienced moderate selling yesterday but volumes were weak. Tomorrow's Retail Sales and Consumer Price Index data will be a focus for traders before going into the weekend.
Nikkei Sees Cautious Selling, Australian Dollar Gaining after Good Data
Leading Indicators data from Japan came in fractionally below their expectations. The Nikkei Index saw cautious selling today, but Japanese equities continue to pulsate near their highs. Retail Sales from Australia were strong and the Australian Dollar has gained. China will release its Trade Balance data on Friday.
European Equities Mixed in Early Trading, Pound & Euro Range Trading
European equities have been mixed early this morning. The Dax continues to see selling pressure, but interestingly the Footsie has been able to marginally gain. European economic data has been rather positive, while the U.K's statistics have essentially met their targets the past week. The Euro and Pound have range traded against the U.S Dollar this morning after losing some ground Wednesday. Italian Industrial Production figures will be released tomorrow.
Steady Trading in U.S Crude Oil, Traders Looking for Upside Momentum
U.S Crude Oil turned in steady trading on Wednesday and is above 63.00 U.S Dollars a barrel. The commodity has been able to sustain it a trend and has not experienced significant downturns. Traders may continue to look for upside momentum in the short term from Crude Oil.
U.S Budget Publication Later Today, Weekly Jobs Numbers & Inflation Report
Traders will look at the Producer Price Index figures from the U.S carefully when they are released at 13:30 GMT.
- 13:30 PM GMT U.S, Producer Price Index
- 13:30 PM GMT U.S, Unemployment Claims
- 19:00 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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