Equities Turn Cautious on China and U.S. Data, BoE Hints at Rate Hike in ‘Coming Months’
China turned in a lackluster Industrial Production result this morning. The Bank of England’s Monetary Policy Summary is affecting the Pound. A Consumer Price Index report will come from the States soon.
CPI Data Crucial for Traders, Retail Sales Tomorrow in States
Wall Street turned in sputtering small gains on Wednesday as investors became cautious because of data. Important Consumer Price Index statistics will come from the States today, this follows yesterday’s lackluster Producer Price Index results which echoed the Federal Reserve’s recent dovish comments about weak inflation. Tomorrow Retail Sales numbers will come from the States.
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Bank of England Leaves Rates on Hold but Hints at Rate Hike in Coming Months, European Trade Balance Numbers Friday
The Pound and Euro have seen volatile trading the past day as investors have reacted to economic data and central bank outlooks. The Pound rallies after the BoE announcement to keep rates on hold. The bank also said that a rate hike is likely to be needed in the ‘coming months’. European equities have sold off this morning with the Dax and Footsie both trading negatively. Trade Balance numbers will come from Europe tomorrow.
China Disappoints with Data, Yen Turning Slightly Stronger
Asian equities turned nervous and declined today. Industrial Production results from China proved disappointing. However, after the large rally among most Asian equity exchanges, the nervous sentiment seen today may be more a reflection of momentary profit taking. The Yen has range traded against the U.S Dollar and has put in slight gains the past few hours.
Gold Finds Support after Sell Off, Next Two Days Will be Speculative
Gold has found support in the past few hours. The precious metal came under pressure late on Wednesday but is now trading near 1323.00 U.S Dollars an ounce. Gold will remain intriguing the next two days for traders.
Weekly Jobs Numbers, Consumer Inflation Results Coming
The Core Consumer Price Index will get the full attention of traders when its results are published in the States at 12:30 GMT.
- 12:30 PM GMT U.S., Core Consumer Price Index
- 12:30 PM GMT U.S., Unemployment Claims
Yaron Mazor is a senior analyst at SuperTraderTV.
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