03.01 - It’s a positive start for 2017
- by Roger Gain
Sentiment is strong as the new year kicks off.
Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. Positive start to 2017
Traders are not wasting any time in the new year.
U.S. stock futures are rising and global stock markets are all pushing higher.
The upbeat mood is being attributed to strong Chinese economic data. The Caixin Purchasing Managers' Index, which tracks manufacturing activity in China, showed the fastest rate of improvement since January, 2013.
The government's official manufacturing index was also positive, but not as upbeat as the Caixin report.
3. Dollar jumps back toward 14-year high
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.95% at 103.34 in early trade, within sight of a 14-year peak of 103.62 touched on December 20.
USD/JPY was up around 0.65% at 118.26, not far from an 11-month high of 118.65.
4. It’s all about tech
The annual Consumer Electronics Show - better known as CES - opens in Las Vegas around 13:00 GMT.
Prepare for tech giants and automakers to unveil a range of new products designed to shock and amaze customers. The conference attracted nearly 180,000 visitors in 2016.