You are here: Home > articles > Shares > Swedish Krona Falls After Riksbank Cuts Interest Rates, US Markets Close Higher
Swedish Krona Falls After Riksbank Cuts Interest Rates, US Markets Close Higher
October 29, 2014 7:22 amVideo
Latest News
- Tesla Q1 Earnings: Poor deliveries point to disappointing results – Stock Markets April 17, 2024
- Video market update for April 17, 2024 April 17, 2024
- Forex forecast 04/17/2024: EUR/USD, GBP/USD, Gold, Bitcoin and Ethereum from Sebastian Seliga April 17, 2024
- Technical Analysis – Gold struggles to jump above 2,400 April 17, 2024
- GBP/USD: trading tips for beginners for European session on April 17 April 17, 2024
- EUR/USD: trading tips for beginners for European session on April 17 April 17, 2024
- Market Comment – Geopolitics and Fedspeak keep stocks under pressure April 17, 2024
- Technical Analysis – USDJPY on the verge of hitting 155.00 milestone April 17, 2024
- Hot forecast for EUR/USD on April 17, 2024 April 17, 2024
- Overview for the GBP/USD pair on April 17th. British inflation could weigh on the pound April 17, 2024
- Technical Analysis – NZDUSD bounces off 5-month low April 17, 2024
- Overview for the EUR/USD pair on April 17th. There is no single reason for the euro to rise April 17, 2024
- Key events on April 17: fundamental analysis for beginners April 17, 2024
- Trading plan for GBP/USD on April 17. Simple tips for beginners April 17, 2024
- Trading plan for EUR/USD on April 17. Simple tips for beginners April 17, 2024
- Technical Analysis of Intraday Price Movement of USD/JPY Main Currency Pairs, Wednesday April 17, 2024. April 17, 2024
- Technical Analysis of Intraday Price Movement of Crude Oil Commodity Asset, Wednesday April 17, 2024. April 17, 2024
- Forecast for EUR/USD on April 17, 2024 April 17, 2024
- Forecast for GBP/USD on April 17, 2024 April 17, 2024
- Forecast for USD/JPY on April 17, 2024 April 17, 2024
Asian shares climbed to one-month highs on Wednesday, steered by a robust Wall Street, with optimism over corporate earnings and the prospect that the U.S. Federal Reserve will reaffirm its willingness to wait for an extended period before raising interest rates. U.S. stocks rose more than 1% on Tuesday, with the S&P 500 now at less than two percent below its record peak set last month. The Dow rose 187 points to close at 17005, the S&P 500 climbed 23 points to close at 1985.
Global equities markets appear to have jumped the gun and are reacting to the FOMC before it delivers tonight at 7pm (UK time), QE is widely expected to end while the Fed reiterates (yet again) that interest rates will remain low for a long time, volatility will result if there’s any deviation from this statement (even the Fed sometimes surprises).
The Euro rose to a one-week high of $1.2765 on Tuesday and last stood at $1.2738 in Asian trade. The Dollar traded at 108.18 yen, not far from a two-week high of 108.36 Yen hit last week. It had a muted reaction to data showing Japanese industrial output rose 2.7 percent in September, slightly above market expectations. The Swedish Krona stabilised after sliding to four-year lows on Tuesday, dented by a surprisingly dovish message from Sweden’s central bank. The Riksbank cut interest rates to zero – more than expected – and said it would delay tightening policy until the middle of 2016 as it moved decisively to tackle the risk of deflation. Both the Euro and Dollar jumped to four-year highs of 9.3912 Krona and 7.3824 Krona respectively on Tuesday as a result.
Gold doesn’t seem to know what to do either, it should be benefiting from a weaker USD and the prospect of low rates but risk appetite is firmly back on, the Yellow metal seems directionless in this environment, while Crude is slowly ticking up on the (possibly short term) improved sentiment
The market sees the release of UK Consumer Lending data at 9.30am and like clockwork its crude oil Wednesdays with the oil inventories hitting the market at 2.20pm.
Related Posts: