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US stocks holding on to Draghi-led rally

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 21, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - US stocks are holding on to a small rally witnessed at the open triggered by dovish comments from ECB’s Draghi.

    At the time of writing, the Dow Jones Industrial Average (DJIA) was up 85 points or 0.5%. The S&P 500 index was up 6 points or 0.37%. The Nasdaq was up 0.30% as well.

    The risk sentiment stabilized as ECB’s Draghi said the central bank would "review and possibly reconsider" its monetary policy stance in March. This means the doors are wide open for a rate cut/QE expansion in March.

    Meanwhile, the data released in the US showed US jobless claims rose unexpectedly to six-month highs last week. However, the markets are not worried about the same as of now.
    For more information, read our latest forex news.
     

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