Yahoo Finance Mark Carney Takes his Turn in the Spotlight, Asian Shares Gain
Bank of England Governor Mark will speak today before the British Treasury. President Trump met with Senate leader Mitch McConnell yesterday to discuss tax reform. The National Congress of China begins tomorrow.
Carney and Inflation Data Combine Today, Pound Volatility a Certainty
Not only is Bank of Governor Mark Carney speaking later this morning, but inflation data via the Consumer Price Index will be published beforehand. The Pound lost marginal value yesterday but remains within focus for all traders who await today’s critical testimony by the Bank of England head in front of the British Treasury. The Euro has also been weaker the past day. Fast trading for the Pound and Euro is a certainty today and traders need to listen to Mark Carney’s testimony.
Trump Meets Senate Leadership, Push for Tax Reform Gain Momentum
President Trump held meetings with top Republican leaders on Monday to discuss methods of pushing his tax reform package through Congress. Wall Street responded with a rather calm day of gains. The Empire State Manufacturing results on Monday were better than anticipated. Today Industrial Production numbers will be published.
National Congress in China Tomorrow, Yen Slightly Stronger Again
China will begin conducting its National Congress tomorrow and many investors will watch the events, which sometimes produce surprise announcements. Asian markets are likely to be tentative the next couple of days as developments from China are examined closely. However, equities in Asia have continued to remain bullish. The Nikkei Index may have slowed down but has remained in positive territory on a daily basis. The Yen is traversing the 112.00 level against the U.S Dollar.
Speculators Cash in Winning Bets, Gold Will React to Broad Markets
Gold has come under pressure the past twelve hours as speculators may have decided to cash in winning positions. The precious metal is near 1294.00 U.S Dollars an ounce and will likely react to the broad markets, particularly forex conditions.
Carney Talks and Investors Listening, Inflation Data from U.K.
Bank of England Governor Mark Carney will get the attention of global investors when he begins speaking around 10:15 GMT.
8:30 AM GMT U.K., Consumer Price Index
10:15 AM GMT U.K., Bank of England Governor Carney Speaking
13:15 PM GMT U.S., Industrial Production
Yaron Mazor is a senior analyst at SuperTraderTV.
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This article was originally posted on FX Empire
