It was another very much similar trade pattern as yesterday. It’s the perfect week for the profit taking or preparing what will happen next week, FOMC meeting week.
FED will raise the rate 0.75% or 1.0% and will tighten the money supply line more to kill the inflation regardless of what people are saying.
European Central Bank is going to raise the rate by 0.5% this time, much higher than market expectation. Same stories in the EU. The exchange rate of the Euro against the US Dollar surged more than 1% today and the European stocks market rallied big.
STOXX 600 index rallied 1.4% and MSCI’s global index also surged big, 1.9%.
US Dollar Index fell more than 0.6%, ending at 106.70 points today and the crude oil price jumped again.
Perfect preparation for the next week.
US stocks market also rallied big today with much better earnings reports than the market expectations. But we’d better to cautious “ Better than the market…
