Fed Pushes U.S. Dollar Lower
Wall Street turned in slight gains on Wednesday upon the release of the Federal Reserve’s Meeting Minutes. The publication via the U.S central bank propelled the U.S Dollar lower against the major currencies. Inflation remains a heated topic of discussion among Fed members. Today weekly Unemployment Change numbers will come from the States, along with the Capacity Utilization Rate statistics.
Good Japanese Trade Balance Statistics
Trade Balance numbers from Japan proved very positive this morning, which continued the recent string of solid economic reports from the nation. The Yen has added value against the U.S Dollar. However, equities via the Nikkei Index have stayed under pressure today. News has come from China early today that indicates the Chinese government will continue to push for greater privatization of its industries, which could bolster investor confidence in the nation.
Stronger U.K. Stirs Pound
The Average Earnings Index numbers from the U.K provided investors with a surprisingly strong outcome on Wednesday. Retail Sales numbers will come from Britain today and could impact the Pound more. The British currency rose against the U.S Dollar late yesterday and is above the 1.29 mark. The Euro also reversed yesterday. The European Union will release intriguing Final Consumer Price Index data today.
Crude Oil within Grip of Sellers, Gold Testing Resistance
Gold and Crude Oil have provided traders with plenty of action. Gold has seen another push upwards and is testing important resistance as it trades above 1290.00 U.S Dollars an ounce. Crude Oil continues to face pressure and its short-term trend remains within the grips of sellers.
Yaron Mazor is a senior analyst at SuperTraderTV.
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This article was originally posted on FX Empire