Uncertainty Igniting Negative Sentiment, Gold, Euro and Bitcoin Rise

The U.S will release a huge amount of data today. However, the sentiment is being driven by the uncertainty in Washington as tax reform remains cloudy. The Euro has done well this morning and economic data from Europe was positive yesterday.

Wall Street Struggling as Sentiment Shifts, Vast Array of Data in U.S Today

A vast array of economic data will come from the States today, including Consumer Price Index, Core Retail Sales, the Empire State Manufacturing Index and supply numbers for Crude Oil. However, investor sentiment is being shaken by the inability of politicians in Washington to deliver on tax reform promises. Wall Street has struggled, and its downturn may not be over.

Deep Declines for Asian Equities, Short Term Traders Nervous

Selling remained fast and strong in Asia this morning. The Nikkei and Topix Indexes led the losers, but the Hang Seng also fell and put in a decline of over 1 percent. Gross Domestic Product results from Japan came in slightly below their estimate this morning, but the selling seen in Asian equities is a direct reflection of negative short-term market sentiment.

Flourish of Gains for Euro, Solid European Economic Sentiment Reading

The Euro has reemerged early this week with a flourish of gains. The Euro is above the 1.18 level against the U.S Dollar. The European Economic Sentiment reading published yesterday produced a strong outcome of 30.9, which was above the expectation of 29.9. Final Consumer Price Index data will come from the European Union tomorrow. European equities have been negative this morning.

Short-Term Buying Intact for Gold, Bitcoin Rise above $7000

Gold continues to exhibit short-term buying among speculators as the commodity has seen its gains remain intact. The precious metal is near 1284.00 U.S Dollars an ounce and will get extra attention particularly if global equities markets remain under pressure. Bitcoin prices rise sharply today to and trading at 7089, +7.57%. Seems like Bitcoin returns to the uptrend after Friday’s huge drop.

Consumer Inflation Data from States, Supply Numbers for Crude Oil Coming

There will be an immediate reaction to the results via the Consumer Price Index upon its release in the States at 13:30 GMT.

• 13:30 PM GMT U.S., Consumer Price Index
• 13:30 PM GMT U.S., Retail Sales
• 15:30 PM GMT U.S., Crude Oil Inventories

Yaron Mazor is a senior analyst at SuperTraderTV.

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