Asian equities posted strong advances early this morning. The DAX Index has done well in Germany, but the FTSE has proven cautious. U.S equities are being called to open higher. And forex has seen a consolidated range among the major currencies.
European Equities Mostly Positive, FTSE Cautious in Early Trading
European equities have been positive today, except for the Footsie which has been cautious in London. The German Dax Index has gained more than one percent the past month, while it has posted slightly over a three percent advance the past calendar year. And Asian equity markets showed risk appetite has plenty of bite with excellent upward results today. U.S Indexes are expected to open with additional buying action per calls from the Future Markets. All three major Indexes on Wall Street produced impressive gains on Friday in the wake of a strong jobs report, but disappointing Average Hourly Earnings. Japan will release its Tertiary Industry Activity data early on Tuesday.
Short Term Forex Trends Scarce, U.S and U.K Statistics Await Tuesday
Forex continues to produce rather quiet results. The Yen, Pound and Euro have range traded early against the U.S Dollar. Investors are certainly taking a wait and see approach before tomorrow’s key Consumer Price Index data from the States. Also waiting in the shadows for Tuesday, is the important Annual Budget Release from the U.K which will impact the Pound. The U.S Dollar has been fractionally weaker the past two trading sessions, but trends have been hard to find in the short term.
Gold Sees Gains Evaporate, Commodity Lacks Strong Buyers
Gold has seen gains accomplished on Friday evaporate early this morning. The precious metal is near 1319.00 U.S Dollars an ounce. Gold came off low water marks late last week with a flourish of buying, but once again the commodity is facing headwinds and approaching important support as tomorrow’s important U.S inflation numbers await.
U.S Budget Statistics Coming Later, Inflation Data on Calendar Tomorrow
The U.S will release its Federal Budget Balance numbers at 18:00 GMT.
- 18:00 PM GMT U.S, Federal Budget Balance
- 23:50 PM GMT Japan, Producer Price Index