Morning update: #Trump Speech was constructive for risk assets (more)

Posted: 2017-03-01 12:31:00 | Author: Predator Research Predator Research

Global equity markets up better than 1% in most cases. US index future pricing a 90 point up move in the DOW at open. Full transcript and video here.

Comments from from Fed Members Williams and Dudley suggesting that they were ready to move rates soon helped create strong demand for dollars overnight with EURUSD falling to 1.0525 and USDJPY rising to 113.85; a nearly 200 pip move over the last 24 hours. March rate hike expectations now 68% (30% yesterday), and 84% for a move by June.

On the data front, overnight data out of Europe was positive:


The deluge of economic events continues with: 

Personal Income 0.3% expected

Personal Spending 0.3% expected

Core PCE Price Index 0.3% expected

Canada Interest Rate Decision – No change expected 0.50%. Statement to follow

US ISM Manufacturing PMI expected 56.1

China Manufacturing PMI expected later this evening at 50.9

Have fun today! Open-mouthed smile

© Vertex Trading Systems LLC | Powered by Order Flow Trading