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Fed brings out big guns, investors fear the worst
Author: LawrencLampungm
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Fed brings out big guns, investors fear the worst
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Fed accepts $25.80 bln at overnight repo operation
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Fed accepts $25.80 bln at overnight repo operation -
Weekly Fundamentals – SNB’s Decision Diverted Safe Haven Demand to Gold
The focus last week was SNB’s sudden withdrawal of the EURCHF floor of 1.2 and further reduction of interest rates. This move has greatly intensified speculations that the ECB would announce extension of asset purchases in the meeting next week. The commodity most affected SNB’s decision was gold which rallied more than +5%.
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Weekly Fundamentals – SNB’s Decision Diverted Safe Haven Demand to Gold -
Equities Soared as US Employment Increased more than Expected
Equities climbed higher as US ADP employment data and core inflation in the Eurozone came in better than expected. Wall Street gained with the DJIA and the S&P 500 indices soaring +1.23% and +1.16% respectively. Major European indices also rose with the FTSE, CAC 40 and DAX adding +0.84%, +0.72% and +0.51% respectively. Concerns over Greece’s breakaway from the Eurozone remained, sending the Greek 10-year spreads +77 bps wider.
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Equities Soared as US Employment Increased more than Expected