Late yesterday, investors heard from Federal Reserve chief Jerome Powell. According to the current sentiment among the Federal Reserve’s governing members, the economic situation in the United States is stable and does not need any further interventions. This helped strengthen the dollar, as it means the Fed does not plan to cut interest rates again anytime soon.
As a testament to the health of the US economy, today we should encounter multiple reports from the United States. These include the October trade balance and the consumer confidence index, among others.
Meanwhile, the stock markets are winding down as the holiday weekend approaches. On Thursday, the markets will be closed for Thanksgiving, while Friday will only be a half-day. We don’t expect any major spikes or decreases for the remainder of the week.
In addition, the financial markets are currently responding positively to favorable news regarding the trade negotiations between the United States and China. Based on the latest reports, the two parties in the conflict had some meaningful phone calls and have settled some of their disagreements in preparation for signing the phase-one trade deal.
