The Euro and Pound are near important highs against the U.S Dollar and Gold has made impressive gains.
MLK Holiday in States Today, CPI Data Remained Muted on Friday
U.S markets will be closed because of the Martin Luther King Jr. holiday today. This will give investors in the States time to ponder the record highs which were achieved before going into the weekend on Wall Street. The rather muted inflation data via the Consumer Price Index on Friday sparked further weakness for the U.S Dollar in forex.
Yen Makes Strides and New Highs, Inflation Improving in Japan
The Yen has broken through important support and is near a four-month high against the U.S Dollar as it trades near 110.70. Money Stock data came in slightly below its estimate today, but Bank of Japan Governor Kuroda was quoted this weekend as saying the Japanese economy is starting to show signs of improvement regarding inflation. China will release important GDP numbers on Thursday.
Euro and Pound Reach New Highs, Equities in Europe Should be Watched
The Euro and Pound have collectively reached new highs against the U.S Dollar and are challenging key junctures. The absence of U.S traders today could prove interesting. European equities should be watched, taking into account the stronger Euro and Pound make share values more expensive. Consumer Price Index data will come from the U.K tomorrow.
Broad Bullish Sentiment Could Impact Gold, Gold Making Swift Gains
Gold has achieved breathtakingly strong gains and is trading near 1342.00 U.S Dollars an ounce. Resistance proved strong at this value level in early September, but the broad bullish market sentiment could create a different reaction this time around from speculators.
European Trade Balance Figures, U.K Inflation Data Tomorrow
European Trade Balance figures will be issued at 10:00 GMT today and could get the interest of traders.
- 10:00 AM GMT E.U, Trade Balance
- 18:15 PM GMT U.K, Bank of England Member Tenreyro Speaking
Yaron Mazor is a senior analyst at SuperTraderTV .
SuperTraderTV Academy is a leader in investing and stock trading education. Sign up for a class today to learn proven strategies on how to trade smarter.
This article was originally posted on FX Empire
More From FXEMPIRE: