24 Jan Global Stocks Rise as US Shutdown Ends, Trump Visiting Davos Summit Tomorrow
President Trump will be in Davos for the World Economic Forum tomorrow. GDP numbers come from the States on Friday.
Trump to Visit Davos Economic Forum, GDP Numbers Anticipated
Congress ended the U.S government shutdown on Monday and Wall Street reacted with additional record highs. And the major Indexes are expected to open with gains via calls from the Futures Markets. The Richmond Fed’s manufacturing report will be issued today, but traders will now start to focus on the Gross Domestic Product numbers which will be published on Friday, and also keep an eye on President Trump as he visits the Davos World Economic Forum starting tomorrow.
Stellar Gain on the Nikkei Index, Yen Strengthens
The Bank of Japan surprised no one when they held firm to their monetary policy and made it clear they will remain actively engaged. Inflation has improved, but is still below the goal and growth has shown signs of improvement in Japan. The Yen has strengthened versus major currencies, and the Nikkei Index has put in a stellar day of gains, along with other Asian equity exchanges.
FTSE Putting in Gains Early, Pound Strength Keeps Pace
The Pound and Euro have kept their pace early against the U.S Dollar. Public Sector Net Borrowing Data has come from the U.K, but traders will be more concerned with tomorrow’s Average Earnings Index from Britain. European equities have gained this morning, including the Footsie which struggled yesterday likely because of the Pound’s higher value.
Gold Speculation Gaining Ground, Test of Resistance Possible
Gold not only held its ground yesterday but started to advance as buyers out-numbered sellers. The precious metal is near 1337.00 U.S Dollars an ounce and is showing signs of speculation. Gold appears intent on testing highs produced last week and battling resistance again.
European Consumer Survey Coming, Richmond Fed Reading Today
The Richmond Manufacturing Index will be released in the U.S at 15:00 GMT for interested investors.
- 15:00 PM GMT E.U, Consumer Confidence
- 15:00 PM GMT U.S, Richmond Manufacturing Index
Yaron Mazor is a senior analyst at SuperTraderTV .
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This article was originally posted on FX Empire
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