EUR/USD
1.17958
0.117%
Gold
4792.67
0.040%
Oil
87.744
-2.099%
USD/JPY
159.171
0.019%
GBP/USD
1.35288
0.018%
GBP/JPY
215.343
0.047%
Real-time News
On April 17th, Goldman Sachs Head of Asset Allocation Research, Mueller Grissmann, stated that the recent stock market rally needs the Federal Reserve to resume interest rate cuts to maintain its momentum. He described the recent stock market rebound as a "rapid and intense recovery phase," driven in part by technical factors, including hedge funds that had previously sold off stocks to reduce risk and are now forced to rebuild their positions. While the S&P 500 is on track for a third consecutive week of gains exceeding 3%, he questioned whether the rally could be sustained without monetary policy support. He noted that the stock market rally coincided with high oil prices and a lagging credit market. The stock markets strong performance is partly due to its high exposure to technology stocks.The Kremlin warned that Europes provision of drones to Ukraine is dragging Europe toward war with Russia, and that these countries involvement in the war is escalating.On April 17th, Ebury strategist Matthew Ryan stated in a report that the pound would face downside risk if the ruling Labour Party performs poorly in the May local elections. He said this would further increase pressure on Prime Minister Starmers position, and the pound would be under pressure if the market anticipates that his potential successor will lead to greater spending and debt. Starmers fate has been questioned after media reports that former US Ambassador Peter Mandelson failed a security vetting process but was still approved for the position. Ryan stated that the betting market now considers the possibility of Starmer leaving before the end of June to be a real possibility.The founder of the European Chemicals Group said the Ukrainian drone attacks had a significant impact on the Russian fertilizer industry.Market news: The Romanian Prime Minister has vowed to remain in office regardless of the outcome of the party vote.
