Risk events abound as President Trump will speak today at the United Nations. German elections are being anticipated, which will be held on Sunday. The Federal Reserve releases its Monetary Policy tomorrow.
Investors Anticipating U.N. Speech, Wall Street Inches Higher
President Trump will address the General Assembly of the United Nations today. He is expected to speak about North Korea and Iran. However, investors will also listen for any potential comments regarding trade with China. Wall Street put in slight gains on Monday as it continues to inch higher. Housing sector data will come from the States today with Building Permits numbers being issued. And the Federal Reserve will release its FOMC Statement tomorrow.
Buying Fever on Nikkei Index, Japanese Trade Balance Data Tomorrow
After a banking holiday on Monday, Japanese investors have returned with buying fever self-evident this morning as the Nikkei Index has surged nearly 1 and a half percent. The Bank of Japan will present its Monetary Policy Statement on Thursday. And early tomorrow, Trade Balance statistics will come from Japan. The Yen is near 111.50 against the U.S Dollar.
German Election Looms for Investors, Euro Getting Stronger
A German Economic Sentiment reading will be released today, but investors are definitely looking ahead to the Federal Elections which Germany will hold this Sunday. The Euro has been stronger and has inched within sight of important resistance near 1.1975 against the U.S Dollar. The Pound lost ground yesterday. Retail Sales data will come from the U.K tomorrow. European equities put in solid gains on Monday and have opened with some positive momentum today.
Gold Trading Above Critical Support, Precious Metal Remains Soft
Gold has traded lower the past day as it continues to see risk adverse positions being taken off the board. The precious metal is trading above critical support of 1300.00 U.S Dollars an ounce.
Sentiment Data from Germany, Building Figures from States Today
The German Economic Sentiment reading at 9:00 GMT will be focused on by traders today.
- 9:00 AM GMT Germany, ZEW Economic Sentiment
- 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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