Markets week ahead: US indices, Powell, RBA
Global risk appetite improved this past week
On Wall Street, the Dow Jones and S&P 500 rallied 1.79% and 1.86%, respectively. Meanwhile, Across the Atlantic Ocean, the DAX 40 and FTSE 100 rallied 2.59% and 0.46%, respectively. This is as Japan’s Nikkei 225 and Hong Kong’s Hang Seng Index gained 1.73% and 2.79%, respectively.
The rosy mood meant a disappointing week for the anti-risk US dollar as gold prices aimed higher.
Will this momentum keep up?
What to expect in the week ahead?
Notable event risk for financial markets includes a few central bank rate decisions. These are the RBA, BoC and BoJ for the Australian dollar, Canadian dollar and Japanese yen, respectively.
Meanwhile, traders will be closely scrutinizing testimony by Federal Reserve Chair Jerome Powell before Congress. Recent signs that inflation might be stickier than thought have seen markets price in more rate hikes this year. At the end of the week, we will wrap things up with non-farm payrolls data.
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