During the early trading session, Asian stocks traded lower as the global government bond sell off from major central banks continued as yields reached its highest levels since last year. The Nikkei share average was down 0.98%, closing at 19,570 points and the Shanghai dropped 1.55%. Following the release of positive data from New Zealand, the NZD increased against the Dollar and reached a weekly high of 0.756. The First quarterly Retail Sales and Core Retail sales both showed better than expected figures, indicating a strengthening economy.

European stocks opened nearly flat following yesterday’s Bond Auction report, the data showed that the average yield on the Bund auctioned surged to its highest percentage since November, causing concerns on the government debt situation. Currencies are currently trading with little movement as there are no important economic report releases from the Eurozone, however, the Dollar continues to weigh against its major counterparts including the EUR and the GBP, following yesterday’s weak data. The U.S. Core Retail Sales for April grew 0.1%, below the expected figure of 0.5% and the Monthly Retail Sales remained unchanged, with analysts expecting a 0.2% increase.

We expect to see more movement during the American trading session with the release of a number economic reports, including, the Core PPI, Initial Jobless Claims and more importantly the monthly PPI. Furthermore, Canada will release the New Housing Price Index. If the actual figures from the U.S. and/or Canadian data reports are worse than expected then this could weaken the USD or CAD accordingly.

Ask us about our FREE financial advice program: 

Other Top Stories:

Technical Analysis Lesson 1 - Introduction

Technical Analysis Lesson 2 - The Basic Assumptions

How I Made Over $30,000 a Year by Investing in Binary Options

Follow us and SHARE this story on Facebook: