Equity traders are squaring up their positions ahead of the release of the minutes from the latest Federal Reserve meeting.
Fears the US economy might be heading for an actual recession have resurfaced because of the brutal New York Fed manufacturing index report.
GBP/USD is rising, and so is the RSI, suggesting the price bias is to the upside.
European equity markets are in the red as the European Central Bank issued its intention to hike rates by 0.25% next month.
Earlier today we saw a reversal of yesterday’s fortunes as European stock markets recouped some of the ground that was lost yesterday.
Lack of progress on ceasefire talks dents stocks
Despite the ongoing Russian invasion of Ukraine, the mood in the markets has swung around and stocks are enjoying a major rally.
Equity markets are higher across the board as European traders picked up the bullish baton from their counterparts in Asia overnight, and the optimistic mood is doing the rounds in the US too.
Stocks in Europe are up on the session as The People’s Bank of China cut the borrowing cost on 700-billion-yuan worth of one-year medium-term lending facility loans to 2.85%.
It has been a busy 24 hours for central banks as the Federal Reserve announced its tapering plans last night, and today, the Bank of England kept rates on hold, disappointing may traders.
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