Ipek Ozkardeskaya
Swissquote Bank Ltd
The Chinese stocks extended gains on Monday as China announced more stimulus measures and investors rushed to buy before the markets closed for national holiday today. The CSI 300 index jumped more than 8% on Monday and was up by a whopping 26% in six sessions. But the S&P500 gained barely 1% over the same period. Maybe, Powell gets worried that the Chinese measures would boost inflation, along with the potential price risks from the US port strikes due to begin today? Whatever it is, the Federal Reserve (Fed) doves were on the retreat yesterday, the euro doves gained field. All eyes are on the EZ inflation and US jobs data.
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
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