The markets are in a state of waiting at the moment as look they ahead to the minutes from the Fed’s meeting which starts today. There is not a huge amount of data out of Europe as the main movers of the market are likely to be the durable goods orders from September and October’s consumer confidence out of the States. Both are expected to be positive but not likely to make huge waves.
This is because the focus is on quantitative easing and the end of tapering. This month should see the last $15bn tapered into the market as QE3 officially ends. However there are rumours, however slightly muted, that the Fed may hold off the end. This is due to the fact that this is something that may be difficult to return to. Another reason is that as a result of the slowdown of the global economy the Fed may want to safeguard the US recovery from possible knock-on effects.
Results from the past month and cautious tones from various Fed members have led to the dissolution of the rate hike race with no one betting on this happening before December 2015 at the very earliest. Expect it to start up again when/if data becomes more positive.
Posted in Daily Market News on Oct 28 2014
Good morning all, and welcome to half term and the last week of October. Over the weekend we saw the results of the ECB’s stress tests released to a huge lack of fanfare, possibly as it was done on a Sunday and also because the results were leaked last week.VIEW FULL ARTICLE
Posted in Daily Market News on Oct 27 2014 by