23 Jan Washington is the Talking Point Among Investors, Global Stocks Muted
A coalition deal appears to be in the cards for Angela Merkel in Germany. And the Bank of Japan will release its monetary policy decisions tomorrow.
Blame Game in Washington, Traders Focus on Government Shutdown
The U.S government shutdown continues. However, with the threat of a political crisis before going into the weekend, Wall Street responded with a positive day of trading. Data will be extremely light from North America. Canada will issue its Wholesale Sales figures, but Washington D.C is likely to be the talking point among traders as politicians play the ‘blame game’. The U.S Dollar has remained within its weaker stance early today.
Bank of Japan on Early Tuesday, Kuroda Likely to get Another Term
The Bank of Japan will issue its monthly pronouncements early on Tuesday. Asian investors have been cautious today but nevertheless, have produced fractional gains. The Bank of Japan may confirm another term for Governor Kuroda tomorrow. And the Yen has been steady this morning as it trades near 110.85 against the U.S Dollar.
Merkel Closes in on Governing Deal, Euro Steady against U.S Dollar
Reports from Germany indicate Angela Merkel is getting close to putting an official seal on the fourth term as Chancellor. Forming a coalition government has not been an easy task for Merkel this time around, but it appears negotiations are entering their final stage. The Euro has remained strong and is above 1.22 against the U.S Dollar. Traders should keep in mind the European Central Bank will deliver its monetary policy statement this Thursday.
Gold Tranquil in Early Trading, A Retest of Highs for Precious Metal?
Taking into consideration a large number of potential risk events which could take place near term, Gold has been tranquil and is around 1331.00 U.S Dollars an ounce. The precious metal could attract buyers who believe the commodity will retest highs made early last week.
German Central Bank Publication, Canadian Wholesale Figures Coming
Canada’s Wholesale Sales data will be issued at 13:30 GMT and forex traders will pay attention.
- 11:00 AM GMT Germany, Bundesbank Monthly Report
- 13:30 PM GMT Canada, Wholesale Sales
Yaron Mazor is a senior analyst at SuperTraderTV .
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This article was originally posted on FX Empire
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