Wall Street is expected to be cautious upon its opening today. Investor sentiment is being shaken by the tax reform debate which is growing in Washington. Inflation data will come from China tomorrow, today Trade Balance figures from the nation missed their estimate.
Less Optimistic Investors Possible, Cautious Trading on Wall Street
U.S. equities will open with cautious trading per early calls from the Future Markets. Economic data will be light from the U.S today, but investors will continue to listen attentively to the political debate raging in Washington regarding tax reform. If no clear answer is delivered to investors in the near term regarding tax reforms, investors may grow restless and their mid-term outlooks may become less optimistic. Crude Oil Inventories will come from the States today.
Asian Equities Turn Negative in Late Trading, China Inflation Data Thursday
Asian equities turned negative today. The Nikkei Index produced a slight decline and the Hang Seng reversed off early gains and were negative too. Trade Balance figures from China published earlier today came in below their forecasted results, but it was not a large miss. Selling among some equity Indexes likely has more to do with profit taking. China will release important inflation data on Thursday.
French Trade Balance Results, German Trade Balance Figures Tomorrow
French Trade Balance numbers met their estimates, but the outcome had very little effect on European markets. The Euro is range trading against the U.S Dollar and continuing to display signs of weakness as it trades under the 1.16 level. Tomorrow the European Union will release its Economic Forecasts report and Germany will issue Trade Balance figures. The Pound has also faced early headwinds against the U.S Dollar this morning.
Crude Oil’s Solid Trend Intact, Improving Outlook for Crude Oil
Crude Oil Inventories data will come from the States today. The commodity dropped slightly in value, but U.S Crude Oil remains above 57.00 U.S Dollars a barrel and needs to be monitored as speculative buying continues and has helped the commodity sustain a solid trend.
Housing Sector Numbers from Canada, U.S Crude Oil Supply Figures
Canadian housing sector data will be released today, among the reports will be Building Permits at 13:30 GMT.
- 13:30 PM GMT Canada, Building Permits
- 15:30 PM GMT U.S., Crude Oil Inventories
Yaron Mazor is a senior analyst at SuperTraderTV.
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This article was originally posted on FX Empire
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