26 Jan U.S Dollar Losing Additional Ground, Gold Continues Rising
Trade Balance results from Japan came in below estimates earlier. Gold has been strong and the U.S Dollar has been weak.
Trump’s Arrival in Davos Anticipated, U.S Dollar Remain Weakened
President Trump is scheduled to leave for the Davos World Economic Forum in Switzerland today and investors are anticipating his participation. Existing Home Sales data will come from the U.S, but it is the growth numbers due on Friday which are in focus. Wall Street had a mixed day of trading yesterday and the U.S Dollar continues to remain weak.
Trade Balance Falls in Japan, Asian Equities Stumble in Early Trading
Asian equities have stumbled this morning, but this follows a strong day of gains yesterday. Japanese manufacturing data beat its estimate, but its Trade Balance numbers did fall. The Yen has been strong against the U.S Dollar and is below the 110.00 level. And it should be noted, the Hang Seng Index from Hong Kong has gained more than eleven percent the past month.
Expensive Euro and Pound Challenge Equities, U.K Data on Calendar
European equities will prove interesting today. The climb in values the Euro and Pound have achieved against the U.S Dollar, makes buying equities a more expensive endeavor for investors in Europe. Manufacturing data will come from the European Union today, and the U.K will issue Average Earnings Index figures. Tomorrow the ECB will deliver their monetary policy statement.
Speculators Gaining Courage, Commodities Gains Strong across Board
Commodities continue to produce demand across the board. Gold and Crude Oil have put in solid gains and their trends look strong. Gold is above 1340.00 U.S Dollars an ounce, while Crude Oil is above 64.50 Dollars a barrel. And speculators appear to be gaining buying courage.
European Manufacturing Surveys, Housing Data from States
Investors will look at the results of the Manufacturing Purchasing Managers Index via the European Union at 9:00 GMT.
- 9:00 AM GMT, E.U, Flash Manufacturing PMI
- 9:30 AM GMT, U.K, Average Earnings Index
- 15:00 PM GMT, U.S, Existing Home Sales
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.