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Index in Focus: S&P 500; Who wants to make a deal regarding the US Debt Ceiling?
If an agreement is reached, will stock markets continue to make all-time highs?
Trump Rally Still Alive and Kicking, For Now
After a prolonged period of sideways trading within a tight range just off recent record highs, the Trump-fueled rally in US equities once again took center stage in the first few days of the week and the new Trump Administration. Both the S&P 500 and Nasdaq indexes reached new all-time highs on Tuesday amid a series of executive orders issued by the new US President as he hit the ground running immediately after inauguration. The Dow also surged on Tuesday, by over 100 points, to re-approach the highly anticipated 20,000 mark once again.
EUR/USD: Could Yellen take us above 1.1400 next?
As a trader, it’s difficult to predict the impact of a major trading hub being closed. More often than not, it leads to slow, lackluster trading conditions as traders focus on enjoying their time off; however, because there is less volume in the market, we occasionally witness explosive moves, especially when all traders try to exit their crowded trades at the same time. Less than halfway through the Chinese Lunar New Year celebrations (and associated Asian bank holidays), it’s pretty clear that we’re getting the latter scenario.
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