World Stock Markets Mostly Firmer In Quieter Start To Trading Week
Monday February 13, 2017 08:48
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Asian and European stock markets were mostly higher Monday. U.S. stock indexes are also pointed toward higher openings when the New York day session begins.
Gold prices are weaker on a corrective and profit-taking pullback after last week hitting a three-month high. Gold prices are still in a two-month-old uptrend.
In overnight news, the European Union Commission released its economic growth forecasts that put EU gross domestic product growth at up 1.8% for 2017, and the same growth rate for 2018. The Commission also warned that Brexit, Chinese debt concerns and the Trump Administration pose risks to EU economic growth.
The marketplace did breathe a sigh of relief as the weekend meeting between President Trump and Japan Prime Minister Abe did not produce any negative rhetoric coming from Trump.
The U.S. dollar index is trading slightly lower this morning. The greenback bulls have some upside momentum as prices have been trending higher for almost two weeks.
The other key "outside market" on Monday sees Nymex crude oil prices trading weaker. Oil prices are back in a sideways trading range that has bound the market for weeks.
There is no major U.S. economic data due out Monday. However, the data pace picks up rapidly Tuesday, including Fed Chair Janet Yellen speaking on monetary policy before the U.S. Senate.