Global bull market still strong

  • IFC Markets
    2020/02/19
  • IFC Markets
    2020/02/12
  • IFC Markets
    2020/02/05
  • IFC Markets
    2020/01/29
  • IFC Markets
    2020/01/22
  • IFC Markets
    2020/01/16
  • IFC Markets
    2020/01/10
  • IFC Markets
    2019/11/04
Subscribe to our official channel to get the latest updates from IFC Markets

US stocks rose to new records as Federal Reserve cut interest rates third time this year in the busiest week for US corporate earnings. The SP 500, Dow and Nasdaq uptrend broadened with all three above their respective 200-day moving averages. SP500 accelerated the movement of weekly advance, rising 1.9% while the ICE US dollar wiped the 0.6% gain of the previous week as the Fed cut its rate by 0.25% to between 1.50% and 1.75%, signaling no further cuts in the future.

All but FTSE 100 of six largest developed market indexes advanced last week. SP500 led advancers as 75% of SP 500 index companies reported better-than-feared quarterly earnings. All six major currency pairs reversed previous week’s dynamics, and the range of major currency pairs’ weekly fluctuations widened slightly. The Australian dollar was the leader in terms of percentage change: it rose 1.3% against the US dollar.

Two major central banks meet this week: the Reserve Bank of Australia will announce its decision on Tuesday and the Bank of England meets on Wednesday, with both expected to keep interest rates unchanged. Earnings season is not over yet with remaining 30% of US companies still to report quarterly results.

New Exclusive Analytical Tool

Any date range - from 1 day to 1 year

Any Trading Group - Forex, Stocks, Indices, etc.