23 November, 2016
All three major stock indices – S&P500, DJIA and Nasdaq simultaneously advanced to a new record high first time since 1999. Ten sectors from eleven in S&P500 posted growth, which was fuelled by the retreat of the US Dollar, gains in the energy sector and the upbeat growth prospects of in the US economy during Trumps presidency.
December rate hike
The odds stay at 95.4 percent, as the speech of the FED head in New-York, William Dudley, raised confidence in raising thefinancing conditions in December. In his report, on consumer expectations and inflation, he said that he remains optimistic about FED reaching its inflation targets in the next few years.
Prices extended their advance on Tuesday as Libyan OPEC official Mohammed Aun said that the high committee has pushed forward the new production quotas for OPEC members, although final decision has not been reached yet. There are some concerns of finding a trade-off with Iran, as the Oil officials assured that most OPEC members are ready to cooperate. Earlier the Russian president Vladimir Putin said that Russia is ready to support OPEC’s initiative of limiting the production to help market prices to recover. Both benchmarks advance on the positive expectations, WTI and Brent gained 0.5 percent on Tuesday.
The currency appears quite unstable on recent record highs, so it would be advised to keep dividing the profit taking from major bull’s force. The DXY sank 0.05% to 100.89, looking downside, other majors turned to rally together with the emerging markets. The European currency trades are on the brink of a bull market, while Pound along with the Japanese Yen is struggling to enter the green zone. The Russian Rouble posts gains propelled by the Oil and carry trading. The European equities also advance thanks to the weak Dollar.
The Bullion trades in a positive territory as well other precious metals as traders flee from the US Dollar.
The Greenback has certainly taken all chances to become an outsider on the Forex market this week...
The Chinese stock market closed on a positive territory, posting the biggest gain since the end of November 2016...
The Australian regulator is riven by contradictions. On the one hand, the economy requires lower rates...
The Asian stock market began the week with an advance, in anticipation...
The European currency extended its fall after the ECB official, Yves Mersch, denied speculations about QE tapering, making it clear that the regulator is not yet going to change its dovish views...
Oil prices are trading in positive territory on Tuesday, after the Iranian Oil Minister...
The comments of the FED officials Erik Rosengren and Loretta Mester...
The British Pound rose above the level of 1.24 after the Bank of England decision last week...
When it comes to the EUR/USD pair, then we have a descending channel on the weekly chart...