The stock markets around the globe found themselves once again the center of busy activity today, as many instruments went up. Perhaps the most notable changes have to do with the American dollar, which made sufficient gains on the yen in preparation for this week’s Federal Reserve meeting.
In Europe, the STOXX reached its highest level in over a month. Spectacular gains were also seen in the Asian-Pacific region (excluding Japan). This adds to Friday’s achievements when Wall Street marked a record high (SPX), and now the MSCI did too.
The excitement on the market is, as we mentioned, largely built around the upcoming Fed meeting. The Federal Reserve is expected to finally increase interest rates, something that traders have been expecting for many months. Other countries have already switched to more hawkish approaches, most notably Canada.
Furthermore, there are parliamentary elections in Germany this week. Whether Angela Merkel is re-elected or not will likely have a major impact on the eurozone and European bonds.
