Fed Comments Did Not Go Unnoticed by Investors, Dow Jones Near Record High, Gold Pushes Higher

The Dow Jones Industrials will begin trading near record highs today. JOLTS Job Openings data will come from the States. Trade Balance numbers have been good from China and Germany.

James Bullard Sends a Message, No Action from Federal Reserve Near Term

Wall Street continued to strut higher on Monday, and the Dow Jones Industrials produced more record highs. Making news late on Monday were comments via Federal Reserve member James Bullard, who said an interest rate hike is not in the cards in the near term via the U.S central bank. The St. Louis Federal Reserve President’s remarks did not go unnoticed by investors. The Jolts Job Openings statistics will come from the States today and tomorrow Mortgage Delinquencies will be released, along with Crude Oil Inventories.

China Data Positive, Shanghai Shenzhen Remains Bullish

China’s Trade Balance figures posted early this morning were positive. While the Japanese equities have proven tentative, the Shanghai Shenzhen composite has put in slight gains today and has climbed more than 2% in the past month. Current Account numbers from Japan met their expectations today. Tomorrow crucial inflation data will come from China via the Consumer Price Index. The Yen has been consolidated against the U.S Dollar the past day.

German and French Trade Improves, Euro Stubbornly Holding Value

German and French Trade Balance numbers this morning came in better than their forecasts. The Euro continues to be stubborn against the U.S Dollar and is maintaining its value above the 1.18 juncture. European equities have opened cautiously this morning with the DAX and FTSE 100 essentially treading water seemingly until Wall Street begins trading. Tomorrow Industrial Production numbers will come from Italy. The Pound has range traded against the U.S Dollar, after putting in a slight rebound yesterday.

Gold Ready for a Breakout? Relatively Calm Trading for Precious Metal

Gold has seen a rather tight range the past day after suffering a setback on Friday. The price of Gold remains near the important juncture of 1270.00 U.S Dollars an ounce. Speculators have been relatively patient as they have held onto positions. Traders should be aware of potential break out emerging in the coming days.

Yaron Mazor is a senior analyst at SuperTraderTV.

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