Daily Report for December 14, 2017
European markets traded lower on the US CPI number and the following FOMC rate decision with most leading sectors closing in negative territory. The Utility sector was under pressure following a weak outlook that sent the sector down more than two percent on the day while on the positive side UK’s Dixon Carphone climbed 8% on better than expected sales and Zara was up 1.7% on better than expected same stores sales last month.
Forex & Commodities markets:
The dollar index traded lower from two month highs on the CPI number and the FOMC decision to raise the interest rate by 25 basis points. However the dovish outlook regarding future rate decisions sent the dollar lower versus all majors ahead of the rate and outlook decisions today by the ECB, SNB and BOE. SNB rate decision at 9 am, UK retail sales at 9:30, BOE rate decision at 12 and the ECB press conference at 1:30 pm are the important news on the agenda Thursday.
Swing trades follow up –
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