10-Year U.S Treasury Yields are Nearly 3%, US Futures Point Higher on Strong Earnings Reports

Wall Street has been inconsistent the past few trading sessions but set to open higher. Asian equities were strong this morning. Gold has lost more value.

Inconsistent Results from Wall Street, Shanghai Shenzhen Market Powers Up

Asian equities have proven positive today, this as Wall Street has misfired three days in a row with inconsistent results. The Shanghai Shenzhen composite gained more than 2% today, and the Hang Seng and Nikkei Indexes also provided solid climbs. Japanese inflation via Core Consumer Price Index numbers met their expectations. And the U.S saw good economic numbers via Existing Homes Sales and its Manufacturing sector yesterday, but the three major equity Indexes have struggled to add value since the middle of last week. While corporate earnings may be weighing on sentiment, the fly in the ointment for U.S equities is the strong bond market which is producing good results.

Euro Appears Vulnerable as U.S Dollar Gains, U.S Bond Market Influence

The U.S Dollar has been ultra-strong the past few trading sessions and it is putting the Yen, Euro, and Pound near important technical junctures. 10-Year U.S Treasury Bonds are now yielding nearly 3 percent, which has been a definite catalyst for the Dollar trend. The European Central Bank will make their monthly monetary pronouncement on Thursday, but no changes of consequence are expected. The Euro is hovering near the 1.22 level versus the U.S Dollar and still appears vulnerable.

Gold on a Slippery Slope Short Term, April Support Levels May Not Hold

Gold has found itself on a slippery slope the past few days. The precious metal remains under selling pressure and is near the 1325.00 U.S Dollar ounce level. Support proved to be strong around these junctures early in April, but speculative forces may be targeting lower values near term.

Home Price Index from the States, U.S Consumer Data Awaits Today

An important Consumer Confidence reading will be issued for the U.S at 14:00 GMT and get the interest of traders.

• 13:00 PM GMT, U.S, S&P/CS Composite-20 Home Price Index
• 14:00 PM GMT, U.S, CB Consumer Confidence

Yaron Mazor is a senior analyst at SuperTraderTV.

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