A large parade of data will come from the U.S today including Core Durable Goods Order, Unemployment Claims and the University of Michigan’s Consumer Sentiment reading. However, impact will be limited as trading volumes thin due to the upcoming Thanksgiving holiday in the States tomorrow.
Category : Economy
Asian equities have continued their exploration of new highs in early trading today. The U.K will release its Autumn Forecast Statement for growth and the Pound will be impacted. The U.S will publish Core Durable Goods Orders before shuttering for the Thanksgiving holiday which is tomorrow.
Existing Home Sales data will come from the States today, and Core Durable Goods Orders figures will be released tomorrow. Wall Street appears cautious, but posted gains yesterday on the three major Indexes, including the Dow Jones Industrials. The Autumn Forecast Statement will come from the U.K tomorrow.
Forex markets have stabilized after yesterday’s volatility. However, the Euro continues to face headwinds as uncertainty surrounding German politics swirl. Inflation Hearings will be conducted in the U.K today and Existing Home Sales will come from the States.
Forex markets have responded to the political turmoil in Germany with volatility early, but have seen the Euro and Pound regain some equilibrium. Angela Merkel’s attempt to create a government failed this weekend in Germany. ECB President Draghi will speak today.
The U.S will celebrate it Thanksgiving holiday this Thursday, which means market action may turn fast early this week. The U.S Dollar has been weaker. ECB President Draghi and BoE Governor Carney will speak this week. Core Durable Goods Orders will come from the States mid-week. Gold has broken important short term resistance.
Washington began to pass tax reform legislation on Thursday which will help corporate America. Wall Street produced gains on the news. Italian Trade Balance numbers will be published today, and housing sector statistics will come from the States with Building Permits data.
Weekly jobs numbers will come from the States today, along with the Philly Fed Manufacturing Index and Industrial Production figures. Retail Sales data from the U.K came in with a gain of 0.3%, which was better than its estimate. The Pound has been firm against the U.S Dollar.
Investors in the U.S have taken their foot off the gas pedal on Wall Street as trading remains fragile. The U.K will issue Retail Sales today. Asian markets have turned in better results, reversing after yesterday’s strong selloff.