Market Overview:
Equity markets are trading at new three week highs with the DOW, and the S&P 500 trading sharply higher for the third straight day. The DOW up 500 points on this time last week to 25709 and the Nasdaq to 7414 from 7250. As we reported prices to continue past 25500 last week this is an incredible turnaround from the February low of circa 23400 in the DOW particularly. The US Dollar index trades around the 89.82 zone confirming the US Dollar had a comeback week retracing recent weeks movements over most major pairs. The ECB is currently buying huge amounts of bonds per month and will continue until September 2018. The meeting in March will signal what impact this will have on monetary policy for the rest of 2018 and 2019. The BoE governor Ramsden spoke about the need to raise interest rates faster than anticipated based on accelerating wage growth factors. The Pound (GBP) dropped in value against the cross currencies. Brexit concerns are still a hotly talked about subject with just 6% of small and medium sized businesses saying the Government is not listening to their concerns, businesses are worried about what the implications are, the government must consider this when the next negotiating is done. Read more