Traders see glass half full as new week starts

James Hughes AxiTrader UK

US index futures are pointing towards a slightly higher start to the week, despite trade links between the US and China continue to deteriorate, whilst tensions are rising in the Middle East, too. Better than expected Japanese Q1 GDP readings have arguably deflected the potential for some criticism over the health of the global economy whilst there’s also news that Canada plans to quickly push through the ratification of a new trade deal with the US, but whether these factors support the upside that’s being seen in pre-market trade remains to be seen.

Economic news is thin on the ground as the new week gets underway, with the Chicago Fed’s National Activity Index ahead of the opening bell being the only US fundamental release on the agenda. Given the dearth of data, speeches by various Fed board members will be closely followed as the market looks for fresh clues over monetary policy intentions, whilst any further suggestions as to how the US may look to play its hand in terms of trade strategy will also have the potential to provide some direction.

Ahead of the open the market is calling the DOW up 9 at 2869 and the S&P up 102 at 25866.

Author

James Hughes

AxiTrader UK

James Hughes is Chief Market Analyst at AxiTrader. With over 15 years’ experience in the trading industry his knowledge of the financial markets and retail trading is second to none.

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