Another Advance for Wall Street Coming?

Japanese inflation data came in near their estimates. German Import Prices were weaker than expected. The CB Consumer Confidence data from the U.S will be released later.

Solid Day of Gains in Asia, Traders Should Monitor the DAX & FTSE

Asian equities have produced a solid day of buying in the aftermath of Wall Street’s surge yesterday. While the U.S Indexes didn’t regain all of their declines encountered last week, the advances have seen on the Dow Jones, S&P and NASDAQ were strong. And calls via the Futures Markets for American equities are indicating the major Indexes will advance upon opening. Inflation data from Japan nearly matched their estimates today. And European equities have opened with gains, but as the Euro and Pound trade near highs against the U.S Dollar, the Dax and Footsie should be watched carefully. And German Import Prices came in weaker than expected. Important Consumer Confidence statistics will come from the Conference Board in the U.S today, and this will be followed by tomorrow’s critically important Gross Domestic Product results.

Trade Conflict Concerns Ease, U.S GDP Data Tomorrow Important

The U.S Dollar has continued to give up ground against most major currencies, but the Yen has been slightly weaker the past day. Investor sentiment in Asia remains fragile, but risk appetite has seen a spark of hope begin to re-emerge. Japan will see more inflation data towards the end of the week, and China will release manufacturing numbers very late on Friday. However, Asian investors are taking their cue from the results on Wall Street, and concerns which have seemed to ease regarding the potential of a trade conflict between China and the States. Forex markets will react upon the publication of U.S GDP statistics tomorrow and until then traders will need to position themselves with caution.

Weaker U.S Dollar Helping Gold, Precious Metal has the Attention of Traders

Gold has caught the attention of speculators the past few days and is near 1355.00 U.S Dollars an ounce. Even after Wall Street’s strong reversal yesterday with dynamic buying emerging, the precious metal has been able to gain. A big part of the equation is the weaker U.S Dollar.

Consumer Confidence from the U.S, Fed Manufacturing Figures from Richmond

The release of U.S Consumer Confidence data at 14:00 GMT will be looked at carefully by investors.

• 14:00 PM GMT, U.S, CB Consumer Confidence
• 14:00 PM GMT, U.S, Richmond Manufacturing Index

Yaron Mazor is a senior analyst at SuperTraderTV.

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