{"id":119046,"date":"2018-01-04T07:44:32","date_gmt":"2018-01-04T12:44:32","guid":{"rendered":"http:\/\/countingpips.com\/?p=119046"},"modified":"2018-06-01T15:46:48","modified_gmt":"2018-06-01T15:46:48","slug":"santa-rally-continues","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/01\/santa-rally-continues\/","title":{"rendered":"Santa rally continues"},"content":{"rendered":"
January 4, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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All three main US indices end at records<\/h2>\n<\/div>\n<\/div>\n

US stock market\u00a0<\/b>scaled new record highs on Wednesday after Federal Reserve meeting minutes showed policy makers are divided over the central bank\u2019s projection of three rate hikes in 2018.. The dollar rebounded: the\u00a0live dollar index<\/a>\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, rose 0.4% to 92.188. The\u00a0S&P 500<\/a>\u00a0rose 0.6% to new record high 2713.07 led by energy and technology shares up more than 1%. Eight of the 11 primary sectors ended in positive territory. The\u00a0Dow Jones\u00a0<\/em>industrial average gained 0.4% closing at record 24922.68.\u00a0Nasdaq\u00a0<\/em>composite index jumped 0.8% to fresh record 7065.53.<\/p>\n

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Positive economic data boosted market sentiment: the ISM manufacturing index rose to 59.7% in December from 58.2 in November, marking expanding manufacturing activity, and construction spending jumped 2.4% in November year over year. The dovish Federal Reserve minutes provided additional support for upbeat sentiment showing some policy makers thought three hikes in 2018 were too aggressive while others thought the pace of rate hikes was too slow.<\/p>\n<\/div>\n<\/div>\n

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Technology stocks lead European markets recovery<\/h2>\n<\/div>\n<\/div>\n

European markets\u00a0<\/b>rebounded on Wednesday led by technology stocks. The\u00a0euro\u00a0<\/em>and\u00a0British Pound\u00a0<\/em>pulled back against the dollar. The Stoxx Europe 600 closed 0.5% higher. Germany\u2019s\u00a0DAX 30\u00a0<\/em>rose 0.8% settling at 12978.21. France\u2019s\u00a0CAC 40\u00a0<\/a>gained 0.8% and UK\u2019s\u00a0FTSE 100\u00a0<\/em>added 0.3% to 7671.11. Indices opened 0.3% – 0.7% higher today.<\/p>\n

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Gains in technology and retailer stocks led advancers while bank stocks declined as the new EU trading rules that include a new way of charging for investment research came into effect on Wednesday. Economic news were mixed: the number of unemployed people in Germany fell by 29,000 to 2.44 million in December, while the construction purchasing managers index in UK fell to 52.2 in December from 53.1 in November.<\/p>\n<\/div>\n<\/div>\n

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Nikkei leads Asian indices advances<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are higher today with investor confidence buoyed by upbeat economic data in the new year.\u00a0Nikkei\u00a0<\/em>jumped 3.3% to 23506.33 on its first trading day of the year helped by continued yen weakness against the dollar. Chinese stocks are up as Caixin report showed activity in China’s service sector expanded at a faster pace in December: both the\u00a0Shanghai Composite Index\u00a0<\/em>and Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>are 0.5% higher. Australia\u2019s All Ordinaries Index added 0.1% despite renewed Australian dollar rally against the greenback.<\/p>\n

\"NIKKEI\"<\/p>\n

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Oil up on Iran unrest<\/h2>\n<\/div>\n<\/div>\n

Oil futures prices\u00a0<\/b>are higher today on geopolitical concerns as protests in Iran continued. AT the same time the American Petroleum Institute late Tuesday report showed a 5 million barrel drop in US crude oil inventories to 427.8 million barrels last week. Prices ended higher yesterday: March Brent crude jumped 1.9% to $67.84 a barrel on Wednesday. Today at 17:00 CET the Energy Information Administration will release US Crude Oil Inventories.<\/p>\n

Market Analysis provided by IFCMarkets<\/a><\/p>

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Note:
\nThis overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or \u0430 recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.<\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets All three main US indices end at records US stock market\u00a0scaled new record highs on Wednesday after Federal Reserve meeting minutes showed policy makers are divided over the central bank\u2019s projection of three rate hikes in 2018.. The dollar rebounded: the\u00a0live dollar index\u00a0data show the ICE US Dollar index, a measure of the […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-119046","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/119046","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=119046"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/119046\/revisions"}],"predecessor-version":[{"id":119060,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/119046\/revisions\/119060"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=119046"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=119046"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=119046"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}