President Trump has promised a decision soon for the role of Federal Reserve Chairman. The ECB is being anticipated by Euro investors. Wall Street was quiet yesterday. Manufacturing PMI data will come from Europe and the States today.
Trump Promises Fed Decision Soon, Wall Street Produces Cautious Session
President Trump has said he is close to announcing a decision regarding the Federal Reserve Chairperson. No exact timetable exists for the announcement, but it does appear Janet Yellen will not be given the job again. Wall Street was cautious yesterday but remains within record territory. A Services Purchasing Managers Index report will come from the States later today.
Election Victory Adds to Risk Appetite, Japan Investors Bolstered
China’s National Congress is concluding today. Investors were given no turbulent news from the Congress and have reacted favorably. The Shanghai Shenzhen Index has been positive and is up nearly 3 percent the past month. Manufacturing data was below its estimate from Japan this morning, but the Nikkei has remained a buyer’s market. The Yen has been stronger against the U.S Dollar early.
European Central Bank on Thursday, Euro Edges Higher Short-Term
Investors are anticipating the European Central Bank’s monetary policy decisions on Thursday. The Euro has ebbed higher but remains in a tight range. Political concerns from Spain continue to boil and should be monitored. Manufacturing PMI data will come from Germany and France today, along with Services readings. The Pound has edged higher too as investors await the Bank of England next week.
Gold Reverses from Lows, Gold Remains Speculative
Gold has gained slightly as it has reversed off support the past day. The precious metal is near 1281.00 U.S Dollars an ounce. However, Gold remains a speculative trade as its broad range has seen plenty of tests the past week.
Manufacturing Data from Europe, Services Numbers from States
Investors will be keen to see the results from the Manufacturing Purchasing Managers Index from the E.U when it is published at 8:00 GMT.
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8:00 AM GMT E.U., Flash Manufacturing PMI
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13:45 PM GMT U.S., Flash Services PMI
Yaron Mazor is a senior analyst at SuperTraderTV.
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This article was originally posted on FX Empire