Global Stocks Rally Continues Despite Rise in US Inflation

The Nikkei Index has powered higher today and Revised Industrial Production numbers from Japan were strong.

Another Round of Important U.S Data, Wall Street Fuels Global Buying

Japanese investors have proven risk-friendly and were strong buyers on the Nikkei and Topix Indexes today, putting an end to what had been a solid week of declines. Revised Industrial Production numbers from Japan came in with a gain of 2.9%, which was well above its estimate of 2.7%. The Yen has powered higher against the U.S Dollar and is near 106.45. Yesterday’s bullish sentiment on Wall Street has helped propel global markets higher, and European equities have been strong this morning. Inflation data from the U.S was better than expected, and today additional statistics will be brought forward with the Producer Price Index.

Forex Percolating with Action, Central Bank Sentiment Shifting

Forex has proven fast and challenging the past day. Whipsaw movement was intense for the Pound and Euro yesterday. Upon the stronger Consumer Price Index outcome from the States, there was an initial decline for the major currencies against the U.S Dollar. However soon afterward the tide began to change and the Euro and Pound began to emerge not only stronger but are testing values not seen for nearly two weeks. Sentiment surrounding global central banks and their outlooks continue to percolate and cause bedlam in forex. Tomorrow the U.K will issue important Retail Sales data.

Gold Shines with Stellar Performance, Dynamic Gains Standout

Gold has shown bright all week and yesterday’s gains stand out. The precious metal is near 1354.00 U.S Dollars an ounce and has not been pushed back today after its stellar performance yesterday. Critical resistance levels are now being tested and traders should keep their eyes on the commodity these next two days.

More Inflation Numbers from States Today, Industrial Production Statistics

The U.S Producer Price Index is certain to get everyone attention upon its release at 13:30 GMT.

• 13:30 PM GMT U.S, Producer Price Index
• 13:30 PM GMT U.S, Philly Fed Manufacturing Index
• 14:15 PM GMT U.S, Industrial Production

Yaron Mazor is a senior analyst at SuperTraderTV.

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