Attention Turns to Wall Street as Traders Fret

German Factory Orders have produced a large gain and the Euro has rebounded. Gold is trading in fast conditions. The JOLTS Job Openings will come from the U.S later.

Nikkei Index Finds Buyers Late in Session, Focus on Nervous Wall Street

The Nikkei Index opened with a dramatic fall this morning. At one juncture the Japanese exchange had lost nearly 6 and a half percent, but it did manage to rebound slightly while losing over 4.7%. If this sounds like a broken record, it’s because the equity markets have suffered two miserable days consecutively. Most analysts remain optimistic about the equities but are wondering when this round of selling will stop. European Indexes have suffered this morning too, and global investors will now turn their attention to Wall Street to see if the volatile downturn can subside.

German Factory Orders Flourish, Euro Puts in Slight Gains This Morning

The Euro has found some buyers early as it has pushed above the 1.24 level, but the Pound remains below the 1.40 mark against the U.S Dollar. It appears German Chancellor Merkel is organizing a final coalition agreement, so she can retain power. Meanwhile, German Factory Orders produced a huge gain of 3.8%. Industrial Production numbers will come from the nation tomorrow. The Yen is back above the 1.09 gauge against the U.S Dollar as Japanese investors produced calmer conditions late in their trading session today.

Gold Magnet for Risk Adverse Traders, Nimble Speculators Needed

Gold has proven a magnet for risk adverse traders the past day as it has climbed in price. The precious metal is around 1340.00 U.S Dollars an ounce in fast conditions. Speculative forces may find opportunities in Gold, but they will have to be nimble to take advantage of its choppy fluctuations.

Additional U.S Jobs Data Today, Japanese Average Cash Earnings Tomorrow

Additional employment data will be released in the U.S via the Jolts Job Openings at 15:00 GMT.

• 13:30 PM GMT Canada, Trade Balance
• 15:00 PM GMT U.S, JOLTS Job Openings

Yaron Mazor is a senior analyst at SuperTraderTV.

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