Yahoo Finance Pound & Euro Make Big Moves along with Gold
Second Estimate GDP numbers will come from the U.K today, and Canada will issue its Core Retail Sales figures. The U.S is celebrating Thanksgiving and Japan is on holiday too. The Euro and Pound gained extensively against the U.S Dollar on Wednesday.
Fed Meeting Minutes Stay on Path, Wall Street Remains Optimistic
Wall Street turned in a cautious and mixed day of trading Wednesday as U.S investors disappeared for the Thanksgiving holiday. When the major Indexes resume trading on Friday they will still be at high levels and be surrounded by rather an optimistic sentiment. The Fed Meeting Minutes offered no real surprises yesterday, indicating a likely interest rate hike in December.
Singapore Forecasts Better Growth, Nikkei Index Leading the Pack
The Shanghai Shenzhen Index has lost ground early this morning, but equity trading in Asia has seen gains for other exchanges like the Hang Seng. Japan is on holiday today. Singapore revised its growth forecast upwards for 2018 today, which may signal solid financial factors for the whole of Asia. Manufacturing data will come from Japan early on Friday.
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Growth Revised Downwards in U.K, Pound & Euro Step Forward
The U.K Autumn Forecast Statement published on Wednesday revised its growth estimate downwards as expected and said the government is setting aside more money in case a ‘hard Brexit’ should occur. However, after initially dropping in value the Pound recovered and gained throughout the day – like the Euro, against the U.S Dollar. Growth results will come from Britain today, and Europe will publish Manufacturing Purchasing Managers Index numbers soon.
An Influx of Buyers in Gold, Fickle Day of Trading Could be Waiting
Gold saw a significant influx of buyers on Wednesday and is near 1290.00 U.S Dollars an ounce. Trading in the precious metal could become fickle today as trading volumes evaporate, but market speculators may find the opportunity to take advantage of sudden short-term ranges.
Gross Domestic Product from U.K, European Manufacturing Reports
The U.K will present its growth results via the Second Estimate GDP report at 9:30 GMT.
9:00 AM GMT E.U., Flash Manufacturing PMI
9:30 AM GMT U.K., Second Estimate GDP
13:30 PM GMT Canada, Core Retail Sales
Yaron Mazor is a senior analyst at SuperTraderTV.
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This article was originally posted on FX Empire
