17 Jan Surging Values for Yen, Euro & Pound in Forex, Gold Rally Continues
The Euro, Pound, and Yen have all been stronger against the U.S Dollar in forex.
Wall Street Catapults to New Records, Dovish Federal Reserve Anticipated
Lackluster inflation results via the Consumer Price Index in the U.S, catapulted Wall Street to new records as investors anticipate a more dovish Federal Reserve. The U.S Dollar got hammered lower in forex before going into the weekend. Today the Martin Luther King Jr. holiday is being celebrated and the markets are mostly closed. The Empire State Manufacturing Index reading will be published tomorrow.
Yen Blasts through Support Levels, Producer Price Index from Japan
The Nikkei and Topix Indexes managed to turn in gains today. This occurred even as the Yen has strengthened significantly against the U.S Dollar, and is near 110.65 after breaking through support. Japan will issue its Producer Price Index reading early on Tuesday, but Asian traders may be gearing towards growth numbers which will come from China later this week.
Cautious Selling on DAX & FTSE, German & U.K Inflation Figures Tomorrow
European equities have begun the day with cautious selling in the aftermath of the Euro and Pound’s bullish behavior. The Euro is near 1.2230 against the U.S Dollar, while the British currency remains above the 1.37 juncture. Important inflation data will come from Germany and the U.K tomorrow, and forex conditions will likely prove insightful on Tuesday.
Gold Flashes Buying Power, Precious Metal Stable in Early Trading
Even as inflation data from the U.S continued to prove lackluster late last week, Gold maintained its momentum and powered to the 1341.00 U.S Dollars an ounce level. Traders remain active and the commodity has been stable in early trading today.
BoE MPC Member Tenreyro Delivering Speech, Japanese Inflation Data
Bank of England member Silvana Tenreyro will deliver a speech later today at 18:15 GMT.
- 18:15 PM GMT U.K, Bank of England Member Tenreyro Speaking
- 23:50 PM GMT Japan, Producer Price Index
Yaron Mazor is a senior analyst at SuperTraderTV .
SuperTraderTV Academy is a leader in investing and stock trading education. Sign up for a class today to learn proven strategies on how to trade smarter.
This article was originally posted on FX Empire
More From FXEMPIRE:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.