Once again, the rise in government bond yields is acting as the catalyst for the sell off in stocks.
The nonfarm sector in the United States showed some positive results last week and added 261,000 jobs in October.
Last week was marked by significant economic events that played a key role. The most prominent of these events were the meetings of several central banks. At the beginning of this week, it is heading to meetings of other central banks and some central bankers' speeches.
Jerome Powell was named by President Donald Trump as his nominee to serve as the next chair of the Federal Reserve, as he moved to make his mark on the world’s most powerful central bank.
The Federal Reserve decided to keep the current policy unchanged, including the Fed Fund Rate. Moreover, the Fed showed a balanced tone, which was somehow widely expected.
Currencies have been trading within a tight range since the beginning of this week, despite the fact that there were many economic releases across the board.
Despite the positive data from the US over the past few days, the US Dollar Index failed to rally,
At the end of last week’s trading, economic figures and events were released, which changes the shape of some assets and its trends over the next two months.
Today, the markets have seen a remarkable move, especially following the European Central Bank's decisions to record the worst trading day against the US dollar for nearly a month as policymakers decided to extend the bond purchase program until 2018 as the size of the monetary stimulus is reduced.
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