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Wall Street propped up in positive risk environment

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 30, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Wall Street is being driven by the Yellen story this week and is allowing for risk appetite on the resumption of the weak dollar environment and lower for longer interest rates for the corporate sector.

    Too early to buck the greenback - ANZ

    The Nasdaq Composite climbed 22.67 points, or 0.5%, to 4,869.29. although the S&P 500 gained only 8.94 points, or 0.4%, to close at 2,063.95, overall it is quite impressive considering the index has not had such a good run as this since October 2013, as being the 15th gaining session this month. The Dow Jones Industrial Average added 83.55 points, or 0.5%, to close at 17,716.66. Another good performing index this month given it is the17th occasion that it has risen in March, the most since March 2010.

    Today, the ADP report was a god send to the bulls and backed up the positiveness that Yellen described that is behind the US recovery and makes for a positive prelude to the nonfarm payrolls this Friday.

    Elsewhere, WTI crude was flat at $38.27, US 10-year yields up 2 bps to 1.83% and the dollar was weak while NZD remains top performer and GBP lags on domestic fears over a Brexit.

    Sterling more sensitive to recoveries in USD - FXStreet
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