The American Futures are little changed after they ended in negative territory yesterday. The persistently high claims for U.S. jobless benefits caused some concerns.
Later today, the U.S. Commerce Department will release 2Q current account balance (160 billion dollars deficit expected). The Conference Board will post its Leading Index for August (+1.3% on month expected). The University of Michigan will publish its Consumer Sentiment Index for September (75.0 expected).
European indices are facing a consolidation. The German Federal Statistical Office has posted August PPI at +0.0% on month, as expected. The U.K. Office for National Statistics has reported August retail sales at +0.8% (vs +0.7% on month expected). The July Eurozone Trade balance was released at 16.6 billion euros surplus, vs 20.7 billion euros surplus in June.
Asian indices closed in the green except the Australian ASX. Japan's national CPI grew 0.2% on year in August (as expected).
WTI Crude Oil futures remain on the upside after the Organization of the Petroleum Exporting Countries (OPEC) and its allies stressed commitment to their agreed output cut. Later today, Baker Hughes will report the total number of rig counts for the U.S. and Canada.
Gold advanced 5.3$ to 1955.82, as dollar remains under pressure.
U.S. dollar remains on the downside as high jobless levels is worrying investors.
U.S. Equity Snapshot
Boeing (BA): The National Transportation Safety Board said proposed safety upgrades for Boeing's 737 MAX are "positive progress".
Source: GAIN Capital, TradingView
Ford Motor (F), the automaker, will invest $700 million to expand its plant in Michigan. With this expansion, the group will begin production of its electric pickup, the F-150, by mid-2022.
Steel Dynamics (STLD) shares jump in premarket trading after the iron producer raised its third quarter forecast. The Co expects its adjusted EPS in a range of 0.46 to 0.50 dollar compared to a previous estimate of 0.30 to 0.54 dollar.
Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.
Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to Forex.com or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.