FX and U.S. equity traders need to remain highly vigilant during New York markets’ opening times on Tuesday, as Trump delivers a speech at the Senate regarding his tax plans. This is likely to be followed by a vote amongst both democrats and republicans later in the week, to begin bringing into law his highly […]
A Santa Claus rally used to be classed as a surge in the price of equities that often occurs in the last week of December, lasting through to the first opening trading days in January. However, over recent years the rally has enjoyed a far longer period, often beginning early December and lasting approximately a
With USA equity markets closed on Thursday due to thanksgiving holiday, the volume of trading in the FX markets was also effected, with the dollar falling versus the euro and the rest of its main peers. However, price action was extremely limited throughout the day, with the major currency pairs experiencing very little in terms
The minutes of the FOMC November meeting were published on Wednesday evening, revealing that an interest rate rise is imminent, however, the minutes also struck a dovish tone, with the various Fed chairs indicating their inflation fears, suggesting that rate rises in 2018 may not be as aggressive as previously predicted. As a consequence of
After falling back last week, whilst displaying a classic Heiken Ashi doji on a weekly chart, indicating investor indecision, many analysts were left wondering where the next momentum would come from, in order to push the main USA equity markets to fresh record highs. After setting so many highs throughout 2017, finally the SPX broke
As news broke from Germany late Sunday evening, revealing that current chancellor Angela Merkel had failed in her attempts to forge a coalition alliance with the FDC party, the euro fell immediately once the FX markets opened. EUR/USD fell by circa 0.9%, reaching S3. As European markets opened the currency pair began to recover, whilst
Last week ended with the main SPX falling for the second week in series and the U.S. dollar also falling for the fourth day in series. Investors appear to be concerned that; despite earnings season proving to be encouraging for U.S. stocks and the Republicans’ tax proposals passing through their first hurdle in The Senate,
The main equity indices in the USA rallied on Thursday, as the proposed tax cuts, which were at the heart of Trump’s election manifesto, passed through the first governmental process, as the Senate House passed the Republican Party’s first version of the bill. The opposition Democrats may put up resistance to the bill and its
With corporate earnings season effectively over, the tax cuts initiative unlikely to be made law (in the form Trump wanted) any time soon and the December FOMC rate setting meeting beginning to focus minds, investors in U.S. equities have been struggling to justify reasons to bid markets up over recent days. Doubts are also beginning
Tuesday proved to be an incredibly busy day for high impact economic calendar news events, with the majority of the Eurozone hard data releases either meeting or beating forecasts, ensuring that the euro rose significantly versus its major peers. EUR/USD rose by circa 1.5% on the day, its largest one day gain since June 27th
