PRE-US market open briefing 27th July 2017
This will kick things off as my first submission on Virily. So in a nutshell, some recent developments in the world markets following the July 26 2017 FED rate announcement.
As expected the FED held rates, though pointed to a autumn 2017 stimulus cut and possible rate hikes at the end of the year.
- USD slightly depreciated against major FX pairs, namely EUR and GBP.
- US market indices, namely NASDAQ and SP500 held firm after the announcement and into post trading EU intraday.
- German DAX is down, following the recent sell off afer last Thursday’s July 20 2017 press conference from the ECB Chair Draghi. Possibly, the post FED announcement is assisting the sell off in EU equities because of the higher EUR vs US basket.
***Subsequent posts will have more detail and include charts***