
The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
The euro continued its advance versus the US dollar on Monday, January 15, while American banks are closed because of the Martin Luther King Day. EUR/USD rose almost to 1.2300. The single currency’s gains are fueled by the expectations that the European Central Bank will tighten its monetary policy this year. This together with the diminution in the euro area’s political risks draws a lot of investors to the region. In turn, speculation that other central bank may move towards reducing monetary stimulus is negative for the US dollar.
Japanese yen has also been strengthening versus the greenback. USD/JPY is tumbling to the south. The pair slid to the lowest levels since the middle of September below 110.80.
EUR/USD and Dow are going line-in-line to the north. Dow Jones 30 futures opened with a gap up at 25,896. It’s necessary to point out that Dow Jones Industrial Average index is at the record maximum. The S&P 500 futures also rose to all-time high of 2,797. The decline of the USD and the US tax reform create a positive environment for the US stocks. In addition, the United States has recently published some decent economic figures. According to the data released on Friday, US retail sales showed confident growth of 0.4% in December. That surely added to investors’ optimism and encouraged them to buy stocks.
One other reason why American equities performed extremely well last week is that energy shares soared amid rising oil prices and optimism about corporate earnings. This week 28 companies listed on the S&P 500 are to report their financial results. Analysts say that tax reform makes it more difficult to analyze earnings reports.
Among other things ahead, note that the US Congress has to pass a spending bill until January 19. Otherwise, a government shutdown will happen. American lawmakers managed to avoid the crisis just before Christmas as they extended the deadline for a few weeks. This time, Republicans and Democrats have to agree on some deal. However, it seems that, for now, the parties have many sources of contention.
The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
Have you seen the film “Big Short”? The investor from the film sold the largest number of Tesla shares he has ever sold: 800,100, that worth $534 million.
The US authorities filed a lawsuit against Facebook - what are the implications?
Inflation in Europe was released better than the forecast. The preliminary fact was published at 4.3%. What's happening in the markets?
XAUUSD fell below 1900 for the first time since March 2023. Meanwhile, the US dollar index gives a bearish signal. Read the full report to learn more!
Oil prices are rising while the US government is on the verge of shutting down. How will it affect the market?
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!