Potential Trades Masked Due To Fluctuating Markets
Join Tom as he strenuously exposes potential trades across the slow moving, placid markets. As potential trades are scarce on such days, instead Tom further explains about other trends you should expect in the coming days, and also invites you for a personal review of your trading portfolio on his daily webinars.
Economic Calendar: Euro CPI Expected to Linger On
It was reported on 16 September 2013 that the Eurozone inflation’s gauge, the Core Consumer Price Index, is likely to remain in its current position approaching today’s announcement. The CPI current stand marks a plausible situation, as it centralized right in between the recommended range set by bank’s rates, sustaining the European consumer price inflation. Experts are pleased with the CPI’s enduring rates, which remain relatively low, and thus allow the European Central Bank (ECB) to continue with its low interest rates and permit an ongoing growth for the European economy.
European Stocks Surge Due to Pending Federal Reserve Chairmen Inauguration
A five year high was gained by many European stocks, following Lawrence Summers’ withdrawal of the open vacancy for US Federal Reserve chairman. According to market experts, runner up contender, Janet Yellen, whose intentions to slow down the reduction of stimulus U.S. index, is favored amongst investors and therefore the European and Asian stocks have significantly risen.
Standard & Poor’s 500 Index climbed up a full percent, the Stoxx Europe 600 Index has also jumped, succeeding the agreement closed the U.S. and Russia came to terms with, and in the Asian market an additional incline was seen by the MSCI Pacific.
GBP Rockets to 8-Month High
As a result of Lawrence Summers’ extraction from the race for the next Federal Reserve chairmen, the British Pound has also punched a considerable climb, reaching its highest rate in the last 8 months.
The Sterling, depicting its highest rate since January, continued its climb against the US Dollar, which has been struggling today due to breaking news of Summers’ withdrawal. The pound’s thriving climb makes it one of the strongest coins on the forex market.