Global Stocks Rise after Trump’s Tax Reform Plan, U.S. Growth and Bank of England in Limelight

GDP numbers will come from the States today. From London the Bank of England will begin conducting an economic summit with Mark Carney and Mario Draghi making appearances. Japan has called for snap elections and dissolved its government.

Gross Domestic Product Results, U.S. Dollar Proving Strong Still

Pending Home Sales in the States showed a sharp fall yesterday. However, Wall Street responded with a positive day of trading as talk about a potential Tax Reform package is discussed in Washington. Growth numbers will come from the U.S today via the Gross Domestic Product results. Tomorrow, Personal Spending numbers will be released. And the U.S Dollar has proven strong this week and needs to be watched.

Early Elections Called in Japan, Manufacturing Data from China on Friday

Japanese Prime Minister Abe has dissolved the government and called for a snap election in the nation. The Nikkei has responded with gains, continuing its rather impressive bull run the past month. The Yen is trading weaker against the U.S Dollar. Asian markets have proven dynamic and will remain interesting. Industrial Production numbers will come from Japan early on Friday and China will see the Caixin Manufacturing reading before going into the weekend.

Mark Carney in Spotlight for Bank of England, German Retail Sales

The Bank of England will conduct an economic summit and Governor Mark Carney will be speaking today and tomorrow. European Central Bank President Draghi will also be making an appearance in London. Plenty of important data will be reported, among them Gross Domestic Product figures from Britain and Retail Sales from Germany tomorrow. The Pound and Euro are in focus against the U.S Dollar, as both currencies have experienced strong selling this week.

Gold Testing Important Support, Cash Management a Necessity

The precious metal has continued to see persistent selling. Gold is now testing important support and traders will need to be vigilant. Volatile conditions in forex have spilled over into the precious metal and speculation has certainly become evident. Solid cash management is a necessity going into the weekend.

U.S. Growth Numbers Coming, BoE Economic Summit Next Two Days

Gross Domestic Product numbers will be released from the States Thursday at 12:30 GMT. And on Friday Bank of England Governor Mark Carney will speak in London at 14:45 GMT.

• Thursday 12:30 PM GMT U.S., Final Gross Domestic Product
• Friday 8:30 AM GMT U.K., Current Account
• Friday 14:45 PM GMT U.K., Bank of England Governor Carney Talks

Yaron Mazor is a senior analyst at SuperTraderTV.

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