The US markets closed up for another day yesterday, as traders embraced the positive economic data and Janet Yellen’s comments. Possibly, the most encouraging data was the Beige book report, which confirmed that economic activity has picked up in many different regions of the country.
The same optimism is not filtering into the European markets this morning, however they are on track to finish the short week in a positive territory. The volume in the markets will start declining as we are heading towards the Easter weekend. Having said that, investors will try to take the advantage of Janet Yellen’s speech during which she has delivered the same consistent message of being supportive and accommodative. However, the geopolitical tensions are still there, and they can drag the markets down anytime if the situation does get out of hand. The officials of the EU, US, Ukraine and Russia are meeting in Geneva to resolve these tensions, but if they can find a solution for this, is a very different question.
The DAX index has slipped in the negative territory and it is the worst performing index this morning with the loss of 0.22%. The FTSE 100 is trading lower with a loss of 0.20%. The IBEX index and CAC40 both are trading lower with loss of 0.04%.
Disclosure & Disclaimer:
The above is for informational purposes only and NOT to be construed as specific trading advice. responsibility for trade decisions is solely with the reader. by Naeem Aslam