Inflation data from the U.K did not meet its estimate and German Economic Sentiment proved negative. Wall Street is expected open with additional gains today.
European Equities Positive Early, Netflix Stock Soars
Asian equity markets finished with losses on most Indexes, but the Nikkei was able to muster fractional gains. While most of the declines were moderate, the Shanghai Shenzhen composite did lose the most ground. European equities have been positive this morning, and Wall Street is expected to open with gains per the early calls from Future Markets. Netflix ( NFLX ) rises over 7% on strong earnings and extra 2M subscribers in the first quarter.
China's growth numbers today met expectations and its consumer base continues to help create stability via strong purchasing. U.S retail data yesterday was strong via the broad numbers, but the Empire State Manufacturing Index was disappointing. Investor sentiment has taken on more risk short term, but the U.S earning season on Wall Street could cause sudden gyrations if there are surprise statements from corporations.
U.K Inflation Data Don't Match Expectations, Bad German Sentiment
Inflation statistics from the U.K via the Average Earnings Index have come in below their estimate. And German Economic Sentiment data proved very negative a little while ago. The Pound and Euro have come off their highs based on the results, but both currencies still maintain their stronger realms short term against the U.S Dollar. The U.K will release Consumer Price Index figures tomorrow and this will stir forex again - particularly the Pound. And the recent weakness in the U.S Dollar will continue to attract speculators.
Gold under Short-Term Pressure, Range Trading Dominating Commodity
Gold has come off highs this morning. The commodity is trading near 1342.00 U.S Dollars per ounce. The precious metal has seen plenty of range trading in the past twenty-four hours. Support short-term for Gold appears to be at the 1336.00 juncture.
Housing and Industrial Numbers from U.S., Canadian Manufacturing Data
U.S Industrial Production numbers will get attention from investors upon their release at 13:15 GMT.
- 12:30 PM GMT, Canada, Manufacturing Sales
- 12:30 PM GMT, U.S, Building Permits
- 13:15 PM GMT, U.S, Industrial Production
Yaron Mazor is a senior analyst at SuperTraderTV .
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This article was originally posted on FX Empire
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