Market Wrap: Weak Dollar, Strong NZD and Gold
The NZD rocketed after the Reserve Bank of New Zealand claimed it would end quantitative easing this month. Jump in to know more!
Donald Trump criticizes Fed on rate lifts once again
On Tuesday, American leader repeated that the key US financial institution was lifting interest rates too rapidly and added that American companies turned out to be the greatest around the globe and presented a mind-blowing buying opportunity for investors.
For recent weeks American equities have gone down abruptly on fears over weaker economic surge. American leader has mostly laid the blame for economic headwinds on the US major bank, heavily criticizing its governor, Jerome Powell, whom, in fact, he appointed.
According to media reports, US leader has gone as far as discussing sacking Jerome Powell, and in August he informed Reuters that he was absolutely dissatisfied with the Fed Chair.
On Monday, American leader told that the Federal Reserve appears to be the only problem of the American economy.
As a matter of fact, on the day all three key American stock indexes concluded down over 2% before the Christmas holiday. Besides this, the S&P 500 has inched down by nearly 19.8% from its September 20 closing maximum, just shy of the 20% threshold that commonly defines a descending market.
The previous week the Federal Reserve dared to have its interest rates lifted once again. This move of the US major bank had been generally anticipated.
On Monday, Treasury Secretary Steven hosted a call with Trump’s Working Group on Financial Markets. The given body is generally known as the "Plunge Protection team," and as a rule, it convenes during times of tremendous market volatility.
However, the call did more to affect financial markets than to soothe them. Watchdogs on the call told that they were not observing anything out of the ordinary in financial markets in the latest selloff. That’s what follows from to two sources already familiar with the matter.
Similar
US Inflation: Will It Skyrocket Further?
The United States will publish a headline and core inflation rate on July 13, at 15:30 MT time.
What will move the market on July 12-16?
Much impactful news will come out! Read the article to get fresh trade ideas for the whole week!
Latest news
Ideas for trading US stocks on July 26-30
This week Apple, Microsoft, Google, Facebook, Pfizer, and other large US companies will deliver earnings reports…
Friday Trades: EUR/USD, USD/JPY, and Gold
The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
Will There Be Any Changes in US Monetary Policy?
What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
Deposit with your local payment systems
