Login

Great to see you again

Login
Forgot Password?

Don't have an account yet?

Welcome

You're set

Wall Street Erases Losses with a Buying Spree

Wall Street Halves Losses with Solid Day, Asian Markets Respond Positively

A solid jump in buying yesterday on Wall Street essentially halved the losses it made last week. All three major Indexes in the States made significant gains on Monday and have set the stage for a potential encore. Asian exchanges have reacted with dynamic advances this morning, and the Shanghai Shenzhen composite has proven strong as it reverses after four days of selling. Japanese inflation data via its Services sector came in slightly below its estimate earlier, but the Nikkei Index has climbed over 2 percent today. The U.S will release important consumer confidence numbers later, and this will serve as a precursor to tomorrow’s vital Growth Domestic Product results which will have a big impact. Solid gains in equities the past day may have not erased all the concerns investors have, but they have set the tone for in intriguing day to come.

Volatile Conditions Expected to Emerge, Key Resistance Levels in Sight

The Euro and Pound have sustained their short term momentum with advances against the U.S Dollar. While the Yen has weakened as risk appetite improves in the Asian markets. Tomorrow’s GDP numbers from the States will affect forex, and technical traders should keep in mind strong resistance is within sight for the Euro, Pound and Yen. Meaning volatile conditions could develop suddenly over the next two days.

Crude Oil a Dynamic Barometer, Improving Global Economic Conditions

U.S Crude Oil is proving an interesting barometer for the broad markets. The commodity is near 66.00 U.S Dollars a barrel which is near long term highs. Demand for U.S Crude Oil has been solid and improving global economic conditions may be fueling the energy sectors higher values.

Deposited Currency Figures from European Union, U.S Consumer Data

The Consumer Confidence data from the U.S which will be published at 14:00 GMT could cause a reaction in the broad markets if there is a major surprise in the outcome.

  • 8:00 AM GMT, E.U, M3 Money Supplies
  • 14:00 PM GMT, U.S, CB Consumer Confidence