Crude Oil & Dollar Climb as Equities Slump
European stocks are lagging as US financials return from their hiatus. The dollar is edging upwards as a March rate hike looks likely.
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Bullish Monday Markets
Equites are climbing after the S&P 500 jumped to new highs last week. Overall, markets are bullish, supported by positive economic data and inflationary environments.
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The 4 Major Take-aways from this week
The Federal Reserve sent the likelihood of a March interest rate hike up to almost 50%. Janet Yellen exuded confidence in the US economic climate, adding that it would be unwise to wait too long before increasing rates.
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Market Update – 16-02-2017
EUR/USD – broke out of the wedge after it appeared to breaking below it. However, it remains to be seen how much upside there is for the EUR as there are quite a few obstacles preventing a sustained strengthening of the EUR, also shown in the weak growth we saw in the German data. After the Dutch and French elections, it could be that some anxiety will disappear. However, we also have the Greek crisis which will get its next chapter in the next few days.
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The Fed turns Hawkish
Stocks are rising following Federal Reserve Chair Janet Yellen’s speech yesterday. Yellen was more positive than investors were expecting, which sent US treasury prices lower. The chair noted that encouraging economic data could cause the Fed to raise rates, adding that it is unwise to wait too long to do so, or risk sending the economy into a recession.
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Stocks Slump & Dollar Drags
Investors hold their breath, awaiting Janet Yellen’s speech later today. The market is subdued, following the dollar’s command as the currency drags equities lower.
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