Menu Close
Posted in Other Guys

Global Equity Markets Mostly Weaker; Focus On Central Bankers’ Speeches

This is a syndicated repost courtesy of Money Morning. To view original, click here. Reposted with permission.

(Kitco News) – World stock markets were mostly weaker overnight and U.S. stock indexes are also pointed toward modestly lower openings when the New York day session begins.

Gold prices are seeing a short-covering bounce with moderate gains Tuesday after prices hit a five-week low on Monday.

In overnight news, European Central Bank President Mario Draghi said at a conference in Portugal the ECB will not be in a hurry to wind down its accommodative monetary policy because the European Union’s collective economy is still in recovery mode. However, he also said the Eurozone economy is growing “above trend” and said inflation will increase at some point down the road, which will prompt the ECB to tighten its monetary policy. Draghi’s overall upbeat comments on the Eurozone lifted the euro currency and sent European bond yields higher.

Fed Chair Janet Yellen is scheduled to make a speech in London Tuesday, where she may remark on the U.S. economy and Fed monetary policy.

The key “outside markets” on Tuesday morning see Nymex crude oil futures prices firmer on more short covering after hitting a 14-month low last week.

The oil market bears still have the solid overall near-term technical advantage as prices are trading below $44.00 a barrel. Meantime, the U.S. dollar index is solidly lower early today. The greenback bears have the overall near-term technical advantage.

U.S. economic data due for release Tuesday includes the weekly Johnson Redbook and Goldman Sachs retail sales reports, the S&P/Case-Shiller home price index, the consumer confidence index, and the Richmond Fed business survey.

To get full access to all Money Morning content, click here

About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free. Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and visitors become smarter, more confident investors.

Disclaimer: © 2017 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201.

The post Global Equity Markets Mostly Weaker; Focus On Central Bankers’ Speeches appeared first on Money Morning – We Make Investing Profitable.

Wall Street Examiner Disclosure: Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. No endorsement of such content is either expressed or implied by posting the content. All items published here are matters of information and opinion, and are neither intended as, nor should you construe it as, individual investment advice. Do your own due diligence when considering the offerings of information providers, or considering any investment.

Related Posts

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.