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Wall Street, in part, clawing back 2016 losses

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 17, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    On a bad day for the US dollar, a recovery in commodities (again) the stock market recovered and ended up on Wall Street.

    WTI upside (still) capped around $40.00

    Yesterday's dovish tone from the FOMC has rattled markets and allowed stocks to climb on cheap money. The S&P finished the day up 0.66% (was scoring in positive territory for the year, but slipped back) while the Dow Jones was finishing in the green by 0.90% to 17481 (a gain of 0.3% so far this year) and recovering all of 2016's losses, while the Nasdaq followed in last position up just 0.23% and down 4.6% for the year.

    Another bad day for the greenback - FXStreet

    The US dollar, as weak as it is, will put less downward pressures on corporate earnings and will benefit overseas sales of goods.
    For more information, read our latest forex news.
     

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