Wall Street put in gains on Monday. Investors did not react to President Trump's first appearance at the United Nations yesterday. But the President's speech today could prove differently. The Federal Reserve releases its FOMC Statement tomorrow.
Wall Street Keeps Steady Pace, Federal Reserve Anticipated
Wall Street put in moderate gains on Monday . President Trump is scheduled to address the United Nations today, but his appearance yesterday in front of a U.N committee took place without causing a stir in the broad markets. Housing sector data will come from the U.S, but it is tomorrow's Federal Reserve outlook which investors anticipate. The general opinion among investors is the Fed will remain cautious.
Equities Roar in Japan, Trade Balance from Japan Tomorrow
Japanese equities roared upwards today. The Nikkei and Topix Indexes put in rapid gains and sustained them. The Yen has been weaker against the U.S Dollar and is near the 111.70 juncture. Trade Balance numbers will come from Japan early on Wednesday. Chinese equities on the Shanghai Shenzhen and Hang Seng composites have put declined slightly today.
Mixed Start for European Equities, Euro Testing Highs Against U.S. Dollar
European equities have been mixed in early trading. The Euro has climbed higher and is testing the 1.20 level against the U.S Dollar . Current Account data from the European Union showed an improvement today. Retail Sales will come from the U.K tomorrow. European investors are focusing on the German elections which will be held on Sunday.
Gold Testing Crucial Support, Sentiment Weighed as Selling Continues
Gold's short-term struggles have continued this morning as it straddles important support. The precious metal is near 1307.00 U.S Dollars an ounce and has been vulnerable to speculative selling. Gold will prove a large battleground for traders the remainder of the week.
More Housing Sector Numbers from States, Federal Reserve Tomorrow
Building Permits data from the U.S will be published at 12:30 GMT and could prove interesting for traders.
- 12:30 PM GMT U.S., Building Permits
- 12:30 PM GMT U.S., Housing Starts
Yaron Mazor is a senior analyst atSuperTraderTV.
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This article was originally posted on FX Empire
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