Equities in China have opened in positive territory via the Shanghai Shenzhen and Hang Seng. Japan is on holiday. Forex has seen the U.S Dollar trade slightly weaker early. Gold has gained. The U.S Federal Budget Balance will be published today.
Global Equities Sensitive as Wall Street Looms, Positive Momentum Wanted
Global stock markets will be the key barometer for investors this week. Equities on the Shanghai Shenzhen and Hang Seng composites have opened with early gains this morning. Japan is on holiday. And European equities have opened with buyers taking a gambit. Data will be light globally today, but there will be a couple of speeches from Bank of England officials later. And the U.S Federal Budget Balance will be published, but it is Wall Street that will fuel sentiment. Having gone into the weekend with a burst of buying, traders want to see if positive momentum can be sustained.
Consumer Price Index will Impact Forex, U.S Dollar Slightly Weaker Early
The U.S Dollar has been slightly weaker this morning in forex. The Euro has come off lows, but the Pound remains consolidated and has not shown an ability to gain effortlessly. Conjecture about the U.S Federal Reserve remains a key talking point as investors wonder about interest rates. Inflation data from the U.S will come on Wednesday via the Consumer Price Index and its results will have an impact on the broad markets. It should be noted CPI data will come from the U.K tomorrow. The Yen has been rather muted, but remains strong as Japan celebrates a holiday.
Speculative Traders Active, Gold and U.S Crude Oil at Interesting Junctures
Gold and Crude Oil have begun the week moving in opposite directions. Investors have pushed the precious metal higher this morning as its trades near 1323.00 U.S Dollars an ounce, while U.S Crude Oil has remains below 60.00 Dollars a barrel. Speculative traders in both commodities will remain active.
MPC Member McCafferty Speech, U.S Budget Accounting Data
Ian McCafferty’s address on the U.K economic outlook and monetary policy will get attention at 16:30 GMT.
- 16:30 PM GMT, U.K, BoE Member Ian McCafferty Speaking
- 19:00 PM GMT U.S, Federal Budget Balance