Fed Comments Encourage Markets to Continue Forward
Fed Comments Encourage Markets to Continue Forward - Fed Comments Encourage Markets to Continue Forward. Traders found new reasons to continue to be optimistic on Thursday after US Federal Reserve Chairman Jerome Powell commented that the Fed's policy level is now "just below" a neutral economic forecast. Powell's comments signaled to analysts that the Fed's current monetary tightening policy will end in the near future.
US stock markets surged higher on Wednesday after Powell's comments, with the Dow Jones Industrial Average jumping 2.5 percent to see its biggest one-day gain since March 26, and the second best day of the year. The S & P closed up 2.3 percent and the Nasdaq closed 2.95 percent higher. The rise posted on Wednesday reversed the negative trend in November to allow the Dow and S & P 500 to head to the end of the month in the green.
Also read: GoCopyTrade: A New Era of Social Trading
Although the uptrend strengthened in the last few trading sessions, a poll released this week by Reuters showed that the majority of analysts surveyed believed that the bullish market was still heading towards the end. Nearly 250 equity statistics were surveyed, and most predicted that 2018 would end with the Wall Street index closing lower, even if they continued higher between now and the end of the year.
Also read: Tips for Doing Forex Trading While Working For Beginners
Asian markets took guidance from Wall Street, heading mostly higher on Thursday. The Nikkei 225 index rose 0.39 percent at 2:01 a.m. HK / SIN. The ASX 200 rose 0.58 percent and South Korea Kospi rose 0.12 percent. The benchmark Chinese Index is both lower.
The dollar weakened following Powell's comments, and the dollar index traded down 0.09 percent during mid-afternoon Asia. The greenback was down 0.41 percent against the yen to 113.21. The euro surged 0.19 percent against the dollar to $ 1.1388 while the pound traded 0.14 percent higher to $ 1.2842.
US stock markets surged higher on Wednesday after Powell's comments, with the Dow Jones Industrial Average jumping 2.5 percent to see its biggest one-day gain since March 26, and the second best day of the year. The S & P closed up 2.3 percent and the Nasdaq closed 2.95 percent higher. The rise posted on Wednesday reversed the negative trend in November to allow the Dow and S & P 500 to head to the end of the month in the green.
Also read: GoCopyTrade: A New Era of Social Trading
Although the uptrend strengthened in the last few trading sessions, a poll released this week by Reuters showed that the majority of analysts surveyed believed that the bullish market was still heading towards the end. Nearly 250 equity statistics were surveyed, and most predicted that 2018 would end with the Wall Street index closing lower, even if they continued higher between now and the end of the year.
Also read: Tips for Doing Forex Trading While Working For Beginners
Asian markets took guidance from Wall Street, heading mostly higher on Thursday. The Nikkei 225 index rose 0.39 percent at 2:01 a.m. HK / SIN. The ASX 200 rose 0.58 percent and South Korea Kospi rose 0.12 percent. The benchmark Chinese Index is both lower.
The dollar weakened following Powell's comments, and the dollar index traded down 0.09 percent during mid-afternoon Asia. The greenback was down 0.41 percent against the yen to 113.21. The euro surged 0.19 percent against the dollar to $ 1.1388 while the pound traded 0.14 percent higher to $ 1.2842.
Post a Comment for "Fed Comments Encourage Markets to Continue Forward"
Provide comments relevant to the posted articles and provide critiques and suggestions for the progress of the blog