Open trading account
Fed hiked three times this year, which is at least one hike more than markets expected at the start of the year. FOMC's dot plot implies three hikes in 2018, markets are again not that hawkish. With so much money in the system and stock market seemingly engineered to go just up, federal funds rate could end up much higher than anyone expects. On the other hand, stock market bears have grown surprisingly quiet.
外汇社区博客
Potential for a risk-on week
June's NFP report showed that the figure for May was just a fluke and that the U.S. jobs market is still strong. Having said that, its performance graduated somewhat over the past year which is in line with diminishing slack in the market.
Immediate reaction was to buy the dollar but, after few whipsaws, prices mostly settled near pre-release levels, with a slight risk-on bias. Talking about risk-on, S&P 500 futures posted a new all time high overnight, barely two weeks after Brexit.
Immediate reaction was to buy the dollar but, after few whipsaws, prices mostly settled near pre-release levels, with a slight risk-on bias. Talking about risk-on, S&P 500 futures posted a new all time high overnight, barely two weeks after Brexit.