By: GoearnForex
Global Equity Markets were mixed across the board yesterday. In the U.S, the DJIA recovered most of its losses after losing nearly 100 points following the poorer than expect housing data numbers. Housing Starts came in at 529k versus expectations of 600k. Building Permits printed at 552k versus expectations of 580k. The housing market was the first in the U.S economy to show signs of a bottom. Fear of further weakness sent the equity markets on a roller coaster ride.
Additionally, CPI came in slightly higher than expected, however, not high enough to draw much concern at this time. Gold still continues to make new highs after touching an intraday high of 1,152 before closing at 1,144.30. Oil continues to hold firm just under $80 a barrel. In the Agriculture space, Corn, Wheat, and Soybeans gave up some of their gains from earlier in the week.
The Dollar Index continued to hold firm at just above 75. The Pound was the big loser on the day giving up nearly a half a percent to the Greenback while the EUR gained almost 6/10th of a percent. Currencies continue to hold at pivotal levels as momentum to break key Support and Resistance levels has been inconsistent.
Thursday will have a few key data releases that the markets will be watching. In the U.K, Retails Sales are set to print. Traders will pay special attention to this release as they look for Global consistency in consumer spending. In the U.S, Continuing Claims will be published. Investors want to know on a week by week basis are thing looking up in the labor markets. In the U.S and Canada, Leading Indicators will print. We will have to see how the markets react following yesterday's CPI data.