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(Kitco News) – Global equity markets were mixed in overnight trading Tuesday. U.S. stock indexes are pointed toward firmer openings when the U.S. day session begins.
A feature in overnight trading is sharp gains in the U.S. dollar index Tuesday. The greenback was supported in part by comments from a Federal Reserve Bank official on Monday, who said a U.S. rate hike could come at the March FOMC meeting.
Meantime, the Euro currency is under selling pressure Tuesday on concerns that upcoming French elections could elect the nationalist candidate Marine Le Pen, who has threatened to pull France away from the European Union.
Gold prices are slightly lower Tuesday on a mild corrective pullback from recent good gains that pushed prices to a 2.5-mont's central bank left its monetary policy unchanged at its regular meeting Tuesday. No changes were expected.
The other key "outside market" on Tuesday sees Nymex crude oil prices trading slightly lower. Oil prices are still trading in a sideways and choppy range. Stiff technical resistance layers are located just above the market. Rising U.S. shale oil production levels, as reported in weekly rig counts, are a bearish element for the crude oil market.
U.S. economic data due for release Tuesday is light and includes the weekly Johnson Redbook and Goldman Sachs retail sales reports, the international trade report, the IDB/TIPP economic optimism index, and consumer installment credit.
By Jim Wyckoff, contributing to Kitco News; email@example.com
Follow Jim Wyckoff @jimwyckoff for breaking news.