The Euro, Pound, and Yen remain strong against the U.S Dollar. The Bank of Japan announces its monetary policy tomorrow, the ECB is on Thursday.
U.S Government in Shutdown Mode, Wall Street Perched on Records
The U.S government shutdown has continued into its third day. Experienced investors have seen this type of political game before in the States, and it is unlikely to have a major effect on Wall Street. The three major Indexes are all perched on record levels. Data will be light from the States today, and traders eyes will be focused on Washington to see if Congress can end its impasse.
Yen Steady and Strong, Asian Investors Selling Markets Cautiously
Trading has opened cautiously in Asia this morning as the Bank of Japan’s pronouncements are on the schedule tomorrow. The Yen remains strong against the U.S Dollar. Asian investors have been sellers this morning in the equity markets, but volumes have been light. Trade Balance numbers will come from Japan on early Wednesday morning.
Euro Remains Solid against U.S Dollar, ECB Looms on Horizon
Eurogroup meetings will be conducted today in Brussels with top finance ministers attending. In Germany, the Angela Merkel led government appears close to announcing a coalition deal. And the Euro continues to trades above 1.22 against the U.S Dollar. The European Central Bank waits in the wings and will release its monetary policy outlook on Thursday. Tomorrow Public Sector Net Borrowing numbers will come from Britain.
Gold and Crude Oil Trading Calmly, Commodities Testing Higher Values
Gold and Crude Oil have experienced rather consolidated trading the past few days and have opened with calm conditions this morning. The precious metal is near 1331.00 U.S Dollars an ounce. And U.S Crude Oil remains above 63.00 Dollars a barrel. Both commodities will attract speculation this week.
Eurogroup Meetings in Brussels, Bank of Japan Monetary Policy Tomorrow
Canada will release Wholesale Sale figures at 13:30 GMT and trades will look at these results.
- All Day, E.U, Eurogroup Meetings in Brussels
- 13:30 PM GMT Canada, Wholesale Sales
Yaron Mazor is a senior analyst at SuperTraderTV.
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