Philly Fed President Harker acknowledged an interest rate hike is likely in December this weekend. Prime Minister Theresa May’s grasp on power appears in trouble. And U.S President Trump’s tour of Asian is concluding.
Philly Fed President Expects a Hike, Dow Jones Industrials Cautious
The lack of a clear tax reform package from the U.S Congress has not helped Wall Street the past couple of trading sessions and the Dow Jones Industrials will open slightly above the 23,400 level today. Over the weekend, Philly Fed President Patrick Harker suggested an interest rate hike will happen in December. The U.S Dollar has been slightly stronger early this morning.
Trumps Tour of Asia Concluding Today, Mixed Results on Asian Equities
U.S President Trump is wrapping up his extensive tour in Asia via the Philippines today. Asian markets were cautious before going into the weekend, and have been mixed early this morning. The Hang Seng and Shanghai Shenzhen have put in slight gains however. Bank of Japan Governor Kuroda will be speaking in Europe later today, and the Yen has been range trading against the U.S Dollar.
Prime Minister May Losing Grip on Power, Pound Struggling Early
Prime Minister Theresa May’s grasp on power appears to be weakening. There are multiple reports the Tory led government is edging closer to challenging her leadership position. The Pound has struggled early this morning against the U.S Dollar and the 1.31 juncture may be vulnerable. European equities have opened cautiously this morning. German Preliminary Gross Domestic Product numbers will be released tomorrow.
Speculators Contemplate Gold Support, Another Upwards Reversal Coming?
Gold continues to exemplify a difficult trading ground. The precious metal slipped again before going into the weekend and is near 1275.00 U.S Dollars an ounce. The question investors are contemplating is if support will hold and if another reversal upwards is in the cards for Gold.
U.S Treasury Statement Coming, Bank of Japan Governor in Europe
The U.S will release its Federal Balance Budget report at 19:00 GMT and investors will look over the numbers.
- 17:45 PM GMT Japan, Bank of Japan Governor Kuroda Speaking
- 19:00 PM GMT U.S., Federal Budget Balance