Market Snapshot – Markets in Buoyant Mood
Stock Markets Move Higher
The stock markets around the world have been steady and continue to be bullish as the confidence begins to build once again in the stock markets and the risk sentiment continues to improve. After the uncertainty in Germany, over the political troubles, and the US, over the Fed Chief and tax reform bill, brought in some correction in the markets, the sentiment and the confidence has begun to improve as each problem reaches its logical conclusion. This has helped the stock markets to move higher as the DAX continues to trade in a buoyant manner and the US stock markets have shrugged off the missile test in the North Korean region and continued to move higher.
Crucial OPEC Meeting Ongoing
Looking ahead, a speech from Yellen is scheduled and this is likely to bring in some volatility into the markets along with the OPEC meetings and also the US oil inventory data. The oil prices have been volatile in recent times as reports suggest that the oil producers may not be too inclined to continue their production cut through much of 2018 and the meeting taking place currently between them is likely to lend more insight into their thinking. The rate hike in December is more or less confirmed as far as the US is concerned and it only needed some confirmation from the incoming Fed Chief Powell to lend some support to the dollar as of yesterday.
This article was originally posted on FX Empire
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