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Euro Dropped to Two-Years Low

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Currencies

  • The euro (EUR) extended its drop to a new two-year low at 1.2219 against the US dollar (USD) on Friday on speculations that the Federal Reserve will increase their interest rates as early as in Q2. Today the European Consumer Confidence will be announced and is expected to be at -11.
  • The US dollar (USD) climbed to 119.61 on Friday against Japanese yen (JPY) as the Fed will probably hike their interest rates in the middle of next year. Today the US Existing Home Sales will be announced and are expecting to be at 5.21M.

Equities

  • US equities had the second biggest weekly gain this year as Fed will probably rise the interest rates in the middle of next year, while US economy expanded by 3.9% this year. The US 500 (SPI) climbed to 2075, the US 30 (DOW) advanced to 17841 and the US Tech (NDQ) went to 4288.

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The Greenback Strengthens Across the Board

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Currencies

  • The euro (EUR) collapsed from 1.2569 down to 1.2319 against the US dollar (USD). The single currency dropped after Janet Yellen stated that interest rates will rise gradually next year while expressing her concerns about the economy.
  • The US dollar (USD) skyrocketed from its monthly low at 115.55 all the way up to 119.00 against the Japanese yen (JPY), on yesterday’s session. The greenback strengthens across the board after the FOMC statement, erasing yen’s previous gains.

Equities

  • The US equities erased part of their previous losses as Fed indicates economic growth in the US. The US 500 (SPI) advanced up to 2010, the US 30 (DOW) rose up to 17324 and the US Tech (NDQ) increased to 4172.

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FOMC Statement May Set a New Pace in the Markets

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Currencies

  • The euro (EUR) managed to break its previous resistance and climbed up to 1.2569 against the US dollar (USD). The euro advanced ahead of the FOMC statement due today at 19:00 GMT as investors are watching for signals from the Fed of rising interest rates.
  • The US dollar (USD) continues the decline as drops down to 115.55 against the Japanese yen (JPY). The yen continues to rise as investors are shifting towards safer assets due to the substantial slump of oil prices and after Shinzo Abe election.

Equities

  • The US equities collapsed as there are concerns about global economic growth. The US 500 (SPI) declined down to 1969, the US 30 (DOW) dropped from 17429 to 17050 and the US Tech (NDQ) fell to 4083.

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Yen Trades at 117 as Abe Gets Ready for Abenomics 2.0

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Currencies

  • The euro (EUR) remains range bound between 1.2413 and 1.2485 against the US dollar (USD). The single currency is paused ahead of the PMI services releases across the Eurozone. Better than expected results may push the euro higher.
  • The US dollar (USD) continues the downside as it reaches its one month low at 117.10 against the Japanese yen (JPY). The yen advanced as Shinzo Abe is preparing for Abenomics 2.0 in order to boost economic growth.

Equities

  • Japan 225 (NKI) collapsed down to its 6-week low at 16693, as the yen gains ground and energy prices continues the decline.

Commodities

  • WTI Crude (OIL) and Brent Oil (BRT) resume the decline as they reached new lows at 55 and 60 US dollars per barrel respectively. The energy prices continue the downside as OPEC decided to maintain its production and failed to act in order prevent further decline.

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