U.S Dollar Weaker and US Futures Higher Ahead of the Federal Reserve Meeting

Forex has seen the major currencies gain early against the U.S Dollar, but range trading has started to develop. Crude Oil Inventories will come from the U.S today.

Consecutive Days of Loses for Wall Street, Suspicions Grow in Equities

Asian equity markets turned in a mixed performance today as the Nikkei lost value, but the Shanghai Shenzhen and Hang Seng composites gained. In the wake of U.S President Trump’s State of the Union speech late last night, investors will be primed for a busy day. The Federal Reserve will release its Monetary Policy outlook, and the U.S Dollar which has been weaker will certainly be impacted. Wall Street produced steep losses yesterday, which makes two days of consecutive losses. If the Dow Jones, S&P, and NASDAQ produce a negative session today, it could set off alarm bells for investors who have been looking at the massive gains in equities with suspicion.

Inflation Data from Europe Lackluster, E.U Manufacturing Results Tomorrow

Consumer Price Index data have produced lackluster results in Europe, and German Retail Sales fell dramatically with a minus -1.9% result. Manufacturing data will come from Europe and the U.K tomorrow. The Euro and Pound have been stronger early this morning, but are starting to see a test of their ranges emerge. European equities have been positive early this morning.

Crude Oil Inventories Data from States, Buying Opportunity in Crude Oil?

Crude Oil should be given attention. Supply numbers will come from the U.S for the commodity. Crude Oil met headwinds again yesterday but has seen some buying early this morning at it traverse near 64.00 U.S Dollars a barrel. Traders may become speculative based on the belief the commodity has the ability to gain short term.

Fed’s Interest Rate Outlook Later Today, Canadian Growth Data Coming

The Federal Reserve’s Monetary Policy Statement will be read carefully by global investors upon its release at 19:00 GMT.

• 13:30 PM GMT Canada, Gross Domestic Product
• 14:45 PM GMT U.S, Chicago Purchasing Managers Index
• 19:00 PM GMT U.S, Federal Reserve’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.