Technical Analysis & Market Review
– American Session
General Market News
Federal Reserve minutes fortify the possibility of a December liftoff as the policy makers who were keen to delay an interest rate hike as they were skeptical about the eventual rise of inflation and nervous about global growth, found themselves out of step with a majority of their colleagues. Investors showed few signs of unease after Fed minutes as global equities headed for a fourth day of gains and Treasuries rose. In addition, U.S. shares advanced followed by European stocks which rose to a three month high and the rally of emerging markets. Japan’s second recession since Prime Minister Shinzo Abe took office was not enough to alter Governor Haruhiko Kuroda’s view that the inflationary trend is improving and thus the Bank of Japan left its monetary stimulus unchanged on Thursday. Chinese stocks climbed in Hong Kong and Shanghai as technology companied rallied amid planned upgrades and minutes from Fed meeting indicated that the pace of U.S. interest rate increases will be gradual....
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