US markets climbed after strong Construction Spending data and auto sales. A speech from the Vice Chairman of the Fed, Stanley Fischer, also rocked markets.
Asian markets were mixed today. The Nikkei climbed 0.32% as the Dollar strengthened further against the Yen, climbing to 119.2.
European markets are mixed today. Markets are awaiting tomorrow’s press conference from the ECB as they expect the bank to increase stimulus measures.
Oil declined after reports that Iraq had made an agreement with the Kurdish government. Worries surfaced that oil production could increase and add even more supply to the market. The price declined despite a report from the API which showed US supplies decreased by a higher amount than expected. The EIA will also be releasing inventory data at 3:30pm (GMT) today.
Gold declined as fears over low oil prices subsided and the Dollar rallied. The metal is currently trading around $1200/barrel as the market searches for direction. Traders should focus on US data later in the session including the ISM Non-Manufacturing PMI and Beige Book release.
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