Across all corners of the globe, traders know that the era of cheap… heck, some cases FREE, money is nowhere near done yet.
On the back of this theme continuation, it was equities markets that were once again the major benefactor. As well as:
– US stocks back to their highs.
– European stock markets experiencing their best day since Brexit.
– The USDX back testing support.
Remember when the stock market doomsayer came out from hiding? Well the Fed certainly made sure they were forced to crawl back into whatever hole they crawled out of for the day, because the S&P is back pushing those record highs!
So I know we haven’t been deviating from the major forex pairs and indices markets too often on the blog, so thought a quiet day like today might be a good chance to take a look at something different.
In yesterday’s scheduled speech, Draghi focused on overcrowding in the European banking industry as one major reason for the sector’s low profitability. While that topic was not particularly market moving, in an environment of low rates on both sides of the Atlantic the European indices have and will continue to benefit.
Another short-term bullish trend line (within a higher time frame bullish trend) on the DAX is a nice example of some momentum moves that indices are renowned for.
On the Calendar Friday:
EUR French Flash Manufacturing PMI
EUR French Flash Services PMI
EUR German Flash Manufacturing PMI
EUR German Flash Services PMI
EUR Flash Manufacturing PMI
EUR Flash Services PMI
CAD Core CPI m/m
CAD Core Retail Sales m/m
Dane Williams – @VantageFX
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