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Bitcoin Prices Drop after Segwit2X Fork Cancelled, US Futures Point to Lower Open
Wall Street is expected to decline today upon its opening. German Trade Balance was better than expected. Inflation in China gained more than its estimate. Crude Oil is sustaining its stronger range.
Negative Opening Expected on Wall Street, No Signs of Significant Sell Off
A negative opening is expected on Wall Street following yesterday’s cautious session. The Dow Jones Industrials remains above the 23,500 level which is well within its record heights. Even as traders have proven cautious early this week, there have been no significant sell-offs of equities on Wall Street. Final Wholesale Inventories data will come from the States today, and investors will keep their suspicious eyes on Washington as tax reform debates continue to boil.
Bitcoin Prices Drop as Bitcoin Community Announced the Segwit2X Fork has been Cancelled
Bitcoin was trading with a bearish sentiment since it touched a new all-time high yesterday after the Bitcoin community Segwit2X cancellation announcement. However, since then Bitcoin trade lower and currently are trading at $7129, down 4.31% as of 12:45 GMT.
Nikkei Reversal Surprises Traders, Consumer Price Index Gains in China
The Nikkei Index reversed from its highs this morning and sold off. After putting in significant gains to start the day, the Nikkei’s sudden selling caught some traders by surprise. The Yen has gotten stronger against the U.S Dollar and is near 113.30. Inflation numbers from China were stronger than anticipated today, the Consumer Price Index gained 1.9 percent.
Solid Data from Germany Continues, Euro Firm in Early Trading
German Trade Balance numbers beat their estimate this morning with an outcome of 21.8 billion compared to the forecasted result of 21.0 billion. The improved number adds to the better than expected German Factory Orders number earlier this week. The Euro has held its ground and is trading near 1.16 against the U.S Dollar. Tomorrow Manufacturing Production data will come from Britain.
Supplies Prove Strong for U.S Crude Oil, Crude Oil Sustains Range
Crude Oil Inventories in the U.S showed an increase per its report yesterday. The commodity lost slight value upon the publication, but U.S Crude oil remains within its stronger realms as it trades under the 57.00 U.S Dollars a barrel level.
U.S Business Inventories Numbers, Weekly Jobless Claims
The weekly Unemployment Claims numbers will come from the States at 13:30 GMT and be looked at carefully to see if it provides any surprises.
13:30 PM GMT U.S., Unemployment Claims
15:00 PM GMT U.S., Final Wholesale Inventories
Yaron Mazor is a senior analyst at SuperTraderTV.
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This article was originally posted on FX Empire
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