In the middle of the current busy trading week, market sentiment can be defined as mixed. Yesterday, the latest news from China (Chinese authorities intentions to pursue an active stimulating policy to support the economy), as well as data on American producer inflation, returned a local enthusiasm to the market. On Tuesday, US stock indexes showed significant growth and managed to strengthen by 0.7% -1.7%. It is characteristic that US main index SP 500 rose above the important 2600 points and is trying to gain a foothold at these levels. This is a technical confirmation of a positive market sentiment.
Yesterday, market focus was upon the data on US producer inflation. The base year-on-year figure was 2.7%, with a forecast of 2.9% as well New-York activity index decreased from 11. 5 points to 3.9. It is interesting enough that the markets rated this data positively as the statistics confirms the idea that there is no need for the Fed to raise rates in the future. In addition the markets focus shifts toward the quarterly corporate report season in the States.
The government of Prime Minister Theresa May received a vote of no confidence after the British parliament voted against the plan proposed by the Prime Minister to withdraw from the European Union. However, these events did not have a significant impact on the market. Meanwhile, reports on income from Bank of America and Goldman Sachs will be the main event of today, as the season of corporate reports in the US is gaining momentum.
In FOREX market, the correctional slight US dollar gains continues. USD dollar index continues to trade within yesterday's ranges, rising to resistance in the area of 95.75 points. The European currency strengthened the decline and dropped below 1.1400. Shortly before the start of the American trading session, EUR / USD is trading in the area of 1.1385.
The partial closure of the US government limits the economic data that should be published today. Nevertheless, the main information driver today is the Fed's Beige Book in preparation for the FOMC meeting at the end of the month. Futures on US indices are traded in the green zone anticipating the positive Wall-Street start. Wednesday’s trading session promises to be interesting and intence.
To celebrate our 10-year anniversary we are going to provide a 10% compensation for every trading order closed at a loss to all Clients! PARTICIPATE IN THE PROMOTION TO GET THE MOST OUT OF TRADING WITH FORTFS: Compensation for every trading order closed at a loss Fully withdrawable without trading turnover requirements Compatible with deposit […]
Trade and receive real money for each 10th completed lot USE THE BONUS AND GET THE FOLLOWING BENEFITS: Unlimited withdrawal Compatible with Megaprotect and Deposit Bonus Available for cents and swap-free accounts HOW TO GET BONUS? To have a valid trading account To maintain the minimum account balance of 100 USD Keep trading and receive bonus funds for […]