There is no doubt that 2013 has certainly been a lucrative year for investors. Once again, U.S. stock markets hit record levels, with the Dow Jones breaking the 16,000 mark to close the day at 16,009.99 yesterday, thanks in large part to the release of U.S. Jobless Claims data. The S&P 500 and NASDAQ also turned in relatively positive performances, gaining 0.8% and 1.2% respectively. Futures on these markets this morning are up slightly, indicating a likely continuation of this trend at the opening bell.
Janet Yellen is one step away from heading up the Federal Reserve. With her recent comments on the Fed’s bond buyback program, stock markets will no doubt welcome her with open arms. Next up for Yellen will be winning a vote in the Senate next month to confirm her new position as Fed Chair. Outgoing Chairman Ben Bernanke’s mandate will end on January 31.
Discussions continue in Geneva between Iran and the P5+1 nations, which include the United States, Russia, China, Germany, France and England. To date little headway appears to have been made concerning Iran’s nuclear program. WTI crude not surprisingly rose almost by $2 yesterday, a first since the previous week. Discussions will continue over the weekend.
On today’s economic schedule, Canadian Consumer Price Index (CPI) and Retail Sales data will be released this morning. Beware of a volatile loonie today. Have a great weekend! Rana Karim
Range of the day: 1.0510-1.0590
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NBC Daily Forex : November 22, 2013
Published 11/24/2013, 02:41 AM
Updated 05/14/2017, 06:45 AM
NBC Daily Forex : November 22, 2013
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