IronFX Daily Commentary by Charalambos Pissouros | 28/12/2016
December 28, 2016 8:34 am
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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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.
Join us for more technical and fundamental analysis: http://www.ironfx.com
To get the latest Forex trading news you should:
• Download the IronFX Research app: http://goo.gl/jhQIxO
• Like us on Facebook: https://www.facebook.com/IronFX
• Follow us on Instagram: https://www.instagram.com/ironfx
• Follow us on LinkedIn: https://goo.gl/wSEbPN
• Follow us on Twitter: https://twitter.com/IronFXGlobal
• Circle us on Google+: https://www.google.com/+Ironfxglobal
• Subscribe to our Channel: http://bit.ly/1foFmCU
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