IronFX Daily Commentary by Charalambos Pissouros | 28/12/2016
December 28, 2016 8:34 amVideo
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Dow Jones bulls eye the 20000 mark again
• US equity indices all finished higher yesterday, amid thin holiday trading.
• Dow Jones remains slightly below the 20000 resistance, a level the bulls tried to breach repeatedly in the past month.
• Since not even a “hawkish” hike by the Fed was enough to discourage the bulls, US equities may stay supported or even rise further in coming days.
• But the biggest risk facing US equities and USD may be the specifics of “Trumpenomics”.
• The size and composition of the government’s plans will likely determine whether this trend will continue into 2017, or if a correction is looming.
Today:
• US: Pending home sales for Nov. are exp. to have risen. May prove USD-positive.
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