Wall Street rose robustly for a second straight session, helped by higher oil prices and investors becoming more comfortable with the prospect of an interest rate hike as early as next month. On Wednesday the Dow Jones Industrial Average added 0.82 per cent to end at 17,851
The Group of 7 finance minister’s meeting came and went with nothing more than the same well-worn bromides meant to create the illusion that the leaders of the global financial world are actually solving problems.
Still, the combination of stronger US data and signals from the FOMC that the normalization of rates can still be expected in 2016 helped the Greenback extend its recovery. Since May 3rd, the USD Index has traded higher for three consecutive weeks and gained ground on all the major pairs last week except for the Sterling.
Level 17 Chifley Tower
2 Chifley Square
Sydney, NSW 2000
1300 614 002
Investor Signals Pty Ltd
ABN 44 143 555 453