Record Highs Might be Tested on Wall Street, All Eyes on FOMC Meeting

The Nikkei Index has made huge gains today and Wall Street is expected to open higher. The Federal Reserve will release its Monetary Policy Statement today. Manufacturing and jobs numbers will also come from the States. Gold has proven volatile early.

Big Data and Risk Events from States, Wall Street Anticipating Strong Open

The easier question for investors today may be what is not on the plate regarding data and risk events. The Federal Reserve will grab the spotlight later with its interest rate announcement, but jobs numbers and manufacturing data will be released also. Rumors are swirling in Washington that Jerome Powell will be named the next Federal Reserve Chairman tomorrow. Wall Street is anticipating a strong opening today which could see it mount another attack into record territory.

Nikkei Index Springboards, Chinese Manufacturing Numbers Tomorrow

The Nikkei Index continues to produce frenzied gains. Today’s rally in Japanese equities was noteworthy because the Nikkei produced an approximate move of 1.86% upwards. The Yen has weakened and is trading near the 114.00 juncture against the U.S Dollar. Japan will release its Monetary Base numbers early on Thursday, along with a Consumer Confidence reading.

Pound Remains Strong as BoE Approaches, European Equities Gain

The Pound has remained strong this morning against the U.S Dollar and is near the 1.33 mark. Tomorrow’s Bank of England Monetary Policy Summary is being heavily anticipated. An interest rate hike of a quarter of a point is expected, but it is Mark Carney’s presentation and outlook which will trigger volatility for the Pound. European equities have been positive this morning. And the Euro has been slightly stronger against the U.S Dollar.

Complicated Gold Market Remains Intact, Precious Metal Reverses Again

Gold continues to be a complicated market with choppy trading results. After being taken to short-term lows early this morning, the precious metal has reversed and is near 1275.00 U.S Dollars an ounce. Volatility will continue in Gold as central bank ramifications are digested by investors.

Full Day of Data in States, Federal Reserve has Center Stage        

A busy day of data will be highlighted by the Federal Reserve’s Monetary Policy Statement at 18:00 GMT.

• 12:15 PM GMT U.S., ADP Non-Farm Employment Change
• 14:00 PM GMT U.S., ISM Manufacturing PMI
• 14:30 PM GMT U.S., Crude Oil Inventories
• 18:00 PM GMT U.S., FOMC Statement

Yaron Mazor is a senior analyst at SuperTraderTV.

SuperTraderTV Academy is a leader in investing and stock trading education. Sign up for a class today to learn proven strategies on how to trade smarter.