- Home
- >
- Daily Accents
- >
- The most important to know before the start of the US Session
The most important to know before the start of the US Session
Rating:
Loading...Powell or Yellen
Jerome Powell, Federal Reserve, Trump chose, has firmly adhered to the monetary policy set by current President Janet Yellen in a statement to the Senate Banking Committee today. In the text published by the Federal Reserve on Monday, he offered a strong defense of how the institution is working, regulating and managing the US economy at the moment. Given this, market participants will listen to the latest in Yellen words, and this will have an impact, although she leaves her post in the coming months.
Oil continues to decline
Improving the performance of oil companies was also confirmed by Royal Dutch Shell, and the company said it would pay off its full dividend for two years. Meanwhile, all members of OPEC are considering extending the deadline for shortened oil production by the end of 2018. Earlier this week, it became clear that the damaged oil pipeline between the US and Canada is working again. Looking at the latest COT Report, it is clear that hedge funds also cover a large part of their long positions. We are waiting for the meeting on Thursday, where the decision of OPEC and Russia will give direction to the market. The downward price of black gold has a negative impact on oil companies, and investors are wiping out some of their positions in the sector. This will have a negative impact and increased volatility in the energy sector over the next few days.
Positivism on the stock markets in Europe
Despite the slight downswing in Asia caused by concerns about new North Korean missile tests, European stocks are marking a rise in the energy sector. US futures indicate a positive start for the markets following the growth in Europe. Later today, Trump is expected to meet with Democrat and Republican leaders to discuss the federal budget in order to prevent the government from stopping work after 8 December, when the current funding is over. This would have a negative impact on the dollar if the leaders of the two largest political forces in the country fail to agree. If there is an agreement, we expect the positive impact on the dollar to be limited.
Source: Bloomberg Pro Terminal
Jr Trader Petar Milanov
Bloomberg: Five Things You Need To Know To Start Your Day
Varchev Traders Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
