Why This Isn’t A Risk-Less Market (Despite The Fed Being Dovish)
Why This Isn’t A Risk-Less Market: Start a free trial of The Sevens Report.
What’s in Today’s Report:
- Why This Isn’t A Risk-Less Market (Despite The Fed Being Dovish)
- Understanding Why the Dollar Is Plunging
Futures are modestly higher following mixed global economic data and as investors continued to digest Wednesday’s dovish Fed decision.
Global data was mixed, but not bad, and as such isn’t increasing global slowdown fears. In Europe, the EU flash composite PMI missed estimates (47.0 vs. (E) 48.0) while the UK reading beat (51.7 vs. (E )51.0). In China,
Retail Sales and Industrial Production were better than feared.
Today focus will be on economic data as we get the first look at December activity and for the rally to continue, the data needs to be Goldilocks (so close to expectations). The key reports today are, in order of importance: Dec. Flash Manufacturing PMI (E: 49.2), Dec. Flash Service PMI (E: 50.6), Nov. Industrial Production (E: 0.3%), Dec. Empire Manufacturing Index (E: 3.7).
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