Forex has been consolidated. U.S Crude Oil will be of interest for traders today.
An Ointment for Nervous Traders, Mixed Result in Early Asian Trading
Asian markets have opened with relative calm this morning and mixed results in the aftermath of Saturday’s military entanglements in Syria via the U.S, U.K, and France. Investors in many respects have grown accustomed to a variety of conflicts and what they want more than anything is clarity. The fact that the White House has stated it has accomplished its objective may serve as an ointment for nervous traders. There will be plenty of economic data this week and the U.S kicks off the reports with its Core Retail Sales numbers today. The New York Fed will release its Empire State Manufacturing Index numbers too. Wall Street went into the weekend with slight losses but did show improved sentiment most of last week. Traders should keep in mind that on early Tuesday, China will release growth numbers which could prove important.
Traders Looking at Pound for Action, Consolidation Widespread in Forex
Forex has seen consolidated trading the past few sessions. The Euro has been particularly burdened with a tight range as it lurks near 1.2330 against the U.S Dollar. The Pound in the meantime has been able to hold onto the stronger realms of its value as it trades near 1.4260 versus the Dollar. Important inflation data will come from the U.K tomorrow via the Average Earnings Index and this could ignite the movement for the British currency.
Investors Likely Have Digested Military Strike, Crude Oil at High Values
U.S Crude Oil will get plenty of attention after the weekend’s military strike in Syria. However, investors may have already digested the events and be looking at fundamental data once again for the commodity. Crude Oil is below 67.00 U.S Dollars a barrel and is near important resistance.
Consumer Spending Numbers from the U.S, New York Fed Manufacturing Report
Retail Sales figures from the U.S will prove worthwhile for traders to look at when they are released at 12:30 GMT.
- 12:30 PM GMT, U.S, Core Retail Sales
- 12:30 PM GMT, U.S, Empire State Manufacturing Index
Yaron Mazor is a senior analyst at SuperTraderTV.
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This article was originally posted on FX Empire
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