Traders Taking Advantage of Weak U.S Dollar, Sterling above 1.41

The ECB releases its monetary policy statement tomorrow. The Euro, Pound, and Yen remain strong in forex. Davos World Economic Forum is getting underway.

S&P and NASDAQ RemainWinners, Traders Anticipation Growing

While the Dow Jones Industrials produced a fractional decline, the S&P and NASDAQ have kept their positive trends intact. Manufacturing and housing sector data will come from the States. However, President Trump’s attendance at the Davos World Economic Forum is being heavily anticipated, and Friday’s Gross Domestic Product data is a talking point. The U.S Dollar remains under pressure in forex against all major currencies.

Equities Mixed in Asian Markets, Hang Seng Finishes with Positive Session

Japanese equities finished with moderate losses, however, the Hang Seng and Shanghai Shenzhen composites were able to reverse from early declines and turn in positive sessions. The Yen remains strong and is near 109.50 against the U.S Dollar. Japanese Trade Balance numbers were slightly disappointing today, but manufacturing was better.

Services Data Improves in France & Germany, Davos Summit Underway

French and German manufacturing figures this morning have come in weaker than expected, but services data from both nations have improved. The Euro continues to trade above 1.23 against the U.S Dollar, and the Pound is above the 1.41 level. The U.K Average Earnings Index hit its target, but the Claimant Count statistics did come in with a worse number. The Davos World Economic Forum gets underway in earnest today, and tomorrow the European Central Bank will release its monthly monetary policy statement. European equities have been under pressure early today.

Gold Powers to New Highs, Weak U.S Dollar Having Impact on Gold

Gold has powered higher in the past day. The precious metal is near 1346.00 U.S Dollars an ounce, as commodity markets grow increasing speculative. The weaker U.S Dollar is also impacting Gold with fast conditions.

Manufacturing and Housing Data from the U.S, Crude Oil Supply Numbers

Crude Oil traders will monitor the U.S supply numbers for the commodity which will be released at 15:30 GMT.

• 14:45 PM GMT U.S, Flash Manufacturing PMI
• 15:00 PM GMT U.S, Existing Home Sales
• 15:30 PM GMT U.S, Crude Oil Inventories

Yaron Mazor is a senior analyst at SuperTraderTV.

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