Markets rally as Fed indicates stimulus programme likely to continue
Trading Floor News July 11, 2013 6:44 PM
<p>UK and European Shares and bonds have rallied today, while the dollar tumbled after the Fed signalled the US Central Bank may not be as […]</p>
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UK and European Shares and bonds have rallied today, while the dollar tumbled after the Fed signalled the US Central Bank may not be as close to winding down its stimulus programme as markets have believed
Asian shares hit nearly four-week highs and the Nikkei edged up following Bernanke’s comments yesterday
Wall Street and US indices have remained fairly flat after the release of Fed minutes yesterday
Yesterday the DOW closed at 15300 while the FTSE opened today at 6504. The DAX opened at 8163
On the FTSE Fresnillo was up 10%, Associated British Foods was up 6% and Randgold Resources was up 5.5% while International Consolidated Airlines Group was down 1%
In forex GBP/USD is trading at 1.5067, GBP/EUR is down to 1.1566 and USD/JPY has fallen below the 100 mark to 99.24.
In other sectors gold is up at $1281 and oil is trading fairly flat at $107.
In economic data, the BoJ press conference will attract attention. Also 9am BST German BUBA president Weidmann Speaks, followed by UK MPC Member Miles speaking at 9.30am BST. At 1.30pm keep an eye out for US unemployment claims and monthly import prices, followed by the US Federal Budget Balance at 7pm BST.
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