Solid Opening in Europe as Wall Street Awaits, US Futures Point to a Higher Open on Tax Reform

Eurogroup meetings are underway in Brussels and the Brexit is certainly a subject among the Finance ministers. Wall Street is expected to open higher today following a downturn late Friday which was caused because of a misleading news story.

Russian Saga Story a Factor Today, Fast Opening on Wall Street Expected

Future Markets are indicating a strong opening for the three major Indexes on Wall Street. Political intrigue is emerging as a critical piece of the puzzle for traders. Late on Friday, a misleading story regarding the ‘Russian saga’ and the White House caused nervous sentiment, but an admission the story was wrong developed over the weekend. Meaning the Dow Jones Industrials, S&P and Nasdaq will experience early volatility and a possible surge in buying. Factory Orders data will also come from the U.S today.

Asian Investors Cautious & Calm, Trumps Says Japan has Unfair Advantage

While the Chinese equity markets were positive today, the Japanese Indexes were cautious and produced selling. The Nikkei and Topix lost ground as Asian investors have taken a step backward after producing spectacular gains most of the summer and fall. Consumer Confidence numbers from Japan were slightly better than expectations, and the Yen has been weaker against the U.S Dollar.

Brexit Concerns Weighing on Pound, European Equities Gain Early

Eurogroup meetings are underway in Brussels via the Finance ministers, and investors are nervous as they await potential comments regarding Brexit negotiations. The Pound gained in a remarkable fashion early last week. However, traders may believe the currency is slightly overvalued in the short term as concerns remain regarding the future relationship between the U.K and E.U. Equities in Europe have been positive in early trading today.

Potentially Tough Day for Gold, U.S Dollar Could Impact Gold

Gold experienced early pressure this morning and remains near 1274.00 U.S Dollars an ounce. The precious metal may find a tough day of trading if Wall Street and the U.S Dollar add additional value.

U.S Manufacturing Orders Today, Eurogroup Finance Ministers Meeting

Traders will look at the U.S Factory Orders data carefully when it is published at 15:00 GMT.

• All Day E.U., Eurogroup Meetings
• 15:00 PM GMT U.S., Factory Orders

Yaron Mazor is a senior analyst at SuperTraderTV.

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