Dec 19


  • BY:
  • December, 19th, 2013 9:03 +00:00

Good morning,

The FED planned to cut its monthly bond purchases to $75B from $85B from January.  No a big sharp decrease but it is a signal from FED officials that they believe the US economy can start to have a self sustained  growth.

Equities in US rallied with the DJIA up 292.71 points at 16,167.97 points (+1.84%) and Nasdaq closed at  4,070, up 46.38 points (+1.15%). The DJIA gained nearly 30 points and closed at 1810.65 (+1.66%).

In Europe at 8:44 GMT equities  are following the positive sentiment that was generated on the other side of the ocean.  The Euro stoxx 50 is trading above 3,000 points at +1.68% and the FTSE100 in Uk is at 6,560.98 (+1.06%). In Germany the DAX index is trading at 9,316.13 (+1.46%).

In the currency market  the situation is calm after yesterday the US dollar gained against almost all majors. The EurUsd is trading at 1.3670 (-0.1%) and the UsdJpy is below 104.37 intraday high and is trading at 103.95 (-0.3%). GbpUsd is at 1.638 (-0.06%) and UsdCad at 1.0708 (+0.03%).

Precious metals are losing ground today as well with Gold that is struggling to keep 1,200 area and now is trading at 1,206 $/ounce (-1%) and Silver at 19.31 $/ounce (-2.06%). Probably both metals will rebound when they will get oversold and technical and fundamental factors  creates a bear market rally.

From 9:30 GMT many data will be released in UK (Current account, Retail sales) and in US  at 13:30 GMT  will be released the data regarding jobless claims.