Global Markets Braces for U.K and U.S Insights, European Markets Trade Lower
Inflation and interest rate talk will have an impact on the broad markets as the day proceeds.
U.S Markets Prove Fragile, U.S Report Will Impact Broad Markets
Wall Street hit a wall on Tuesday and lost value. Corporate Earnings from Walmart proved disappointing. The Dow Jones Industrials lost more than 1 percent and global investors will keep their eyes on the U.S equity indexes today to see if sentiment remains fragile. There will be plenty of data from the U.S including manufacturing and Existing Homes Sales statistics. However, the star of the day will be the Federal Reserve’s Meeting Minutes publication, which will help provide a roadmap for future interest rate hikes from the central bank. The broad markets will react swiftly if investors perceive any changes to rhetoric within the paper.
Crucial Day Ahead in Forex as BoE and Fed Reports Await, Euro Weaker
The U.K will conduct its Inflation Report Hearings, and Bank of England Governor Mark Carney will be the key speaker. The Pound remains below the 1.40 level against the U.S Dollar. A combination of inflation insights from the U.K and the Fed’s crucial report today will cause volatility in forex. The Euro traded in a weak manner yesterday taking into consideration the stellar economic data which came from Germany. And it should be noted the Yen has lost value against the U.S Dollar, after a manufacturing report in Japan came in slightly below its forecast.
Precious Metal Declines in Early Trading, Gold Comes Off Highs
Gold has continued to face pressure as its price has fallen from highs seen late last week. Yesterday’s lack of volume in the broad markets may be part of the equation, but the precious metal has declined this morning too and is near 1341.00 U.S Dollars an ounce.
Inflation and Interest Rate Insights from U.K and U.S, U.K Jobs Data
The Federal Reserve’s Meeting Minutes publication will be issued at 19:00 GMT.
9:30 AM GMT U.K, Average Earnings Index
14:15 PM GMT U.K, Inflation Report Hearings
19:00 PM GMT U.S, FOMC Meeting Minutes
Yaron Mazor is a senior analyst at SuperTraderTV.
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This article was originally posted on FX Empire