U.S investors produced another advance on Wall Street yesterday, which may be sparking bull sentiment to re-emerge after three solid sessions in a row. The U.S Dollar remains strong, but near interesting technical levels. The Bank of England will release its Monetary Policy Summary today.
China and U.S Inflation Data Impetus, Bull Sentiment on Wall Street Emerges
Global investors have brushed aside geo-political concerns and have shown risk appetite. Wall Street put in a solid day of gains, and this week’s results on the three major Indexes are catching the eye of bulls who may be considering another buying spree. Consumer Price Index figures will come from the States today, yesterday’s PPI results were below expectations. Asian markets have advanced this morning, and China’s inflation data was slightly below its target. French Industrial Production and Italian Retail Sales were weak yesterday.
U.K Manufacturing Numbers Coming, Some Stability for Major Currencies
The U.S Dollar has remained strong in forex. The surge in the U.S Dollar remains a focal point in forex and the bond market. The Yen, Euro and Pound however, have shown some signs of stability the past day and traders may believe they have lost too much value. The Bank of England’s Monetary Policy Summary which will be released soon is not expected to produce major changes, but it will provide insights regarding the central bank’s outlook mid-term. Manufacturing Production numbers will come from the U.K this morning, which could also impact the Pound.
Solid Trend for Crude Oil Continues, Speculators Remains Active Buyers
U.S Crude Oil has seen another flurry of buying the past twenty-four hour and is approaching 72.00 U.S Dollar a barrel. Speculators remain in a buying mode as concerns about Middle East geo-politics, and solid demand have created an upwards trend for the commodity.
Bank of England’s Monetary Policy, CPI from U.S Vital for Today’s Market
The Bank of England’s interest rate pronouncements at 12:30 GMT will get plenty of attention from forex traders.
- 8:30 AM GMT, U.K, Manufacturing Production
- 11:00 AM GMT, U.K, BoE Monetary Policy Summary
- 12:30 PM GMT, U.S, Consumer Price Index