News Overview

Economic News
05 feb. 2018
News Overview

Tonight in Washington Jerome Powell is goint to take an oath as head of the Federal Reserve and succeed in this position Janet Yellen. During the weekend Yellen said in an interview said that the price of US stocks and commercial property are too high, but that does not mean that the markets are in a bubble.

Furthermore, the head of the Dallas Fed, Robert Kaplan, confirmed the need to raise interest rates in three stages and the news supported the reserve currency.

Since the beginning of Friday's trading session US stock indices have lost at least 2% and retreated from earlier highs. Thus, the Dow Jones index fell below 26,000, while the dollar strengthened against a basket of major currencies.

In addition, data published on the growth of hourly wages in the private sector of the US supported the dollar and had a positive impact on GDP growth. The US unemployment rate has decreased and is at record lows near the values of 2000.

Today there will be an announcement by the ECB President Mario Draghi. European stock indexes also fell after Friday's session.

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The American currency is not suffering losses today.

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