Gross Domestic Product results come from the States tomorrow. The U.S Dollar remains strong in forex. Equities have been mixed.
Huge Plate of Considerations to Contemplate, ECB Overshadowed by Events
Traders have a huge plate of considerations to contemplate today and tomorrow as they consider their investments. The European Central Bank's meeting and pronouncements are today, but they will take a back seat to tomorrow's Korean summit begins early on Friday. And U.S Treasuries continue to produce higher yields which are affecting the U.S Dollar, and tomorrow Gross Domestic Product numbers will come from the States. Wall Street put in slight gains on the Dow Jones and S&P yesterday, but the NASDAQ lost fractional value. Asian equities have been mixed this morning, as Chinese stocks have lost value, but Japanese exchanges have moved higher.
U.S Growth Numbers Tomorrow, ECB Press Conference will impact Euro
The U.S Dollar's higher trend continued on Wednesday, but forex traders may bet the parade will end eventually. The ECB's Press Conference will certainly have an impact on Euro valuations today as it trades near critical support. But tomorrow's GDP data from the U.S will be crucial. American economic numbers have been impressive and if the growth outcome tomorrow outperforms expectations, the U.S Dollar could remain vigorous -which would continue to put pressure on the Euro, Pound, and Yen.
Gold's Inverted Correlation versus U.S Dollar, Precious Metal Testing Support
Gold is on critical support levels early and around 1324.00 U.S Dollars an ounce. The past week has driven the precious metal off of its high water marks, and traders may be itching for a potential reversal. Gold has certainly been suffering from an inverted correlation against the U.S Dollar.
European Central Bank Decision Today, Weekly Jobs Data from U.S
The European Central Bank's Press Conference will get underway at 12:30 GMT and be a focal point for the broad markets.
- 12:30 PM GMT, E.U, ECB Press Conference
- 12:30 PM GMT, U.S, Core Durable Goods Orders
- 12:30 PM GMT, U.S, Unemployment Claims
Yaron Mazor is a senior analyst at SuperTraderTV .
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This article was originally posted on FX Empire
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