Given that the US has seen some mixed economic figures, Michael Hewson considers how this might impact the Fed’s rate hike timing, the dollar, crude oil and US stock markets.
- The S&P 500 may be seeing a head and shoulders pattern, with sideways trading since December, and may have greater risk to the downside as corporate earnings disappoint
- With Greek debt swap proposals, it remains unlikely that the ECB will cut off help Greek banks until the situation is resolved – any break of $1.1460 in EUR/USD could see a short squeeze towards $1.17
- Brent crude oil may have seen a short-term base around $45 amid evidence that energy firms are starting to cut back production, with a key resistance level around $58
Spread Betting & CFD trading carry a high level of risk to your capital and you can lose more than your initial deposit. Only speculate with money that you can afford to lose. These trading products may not be suitable for all investors so seek independent advice.Video content by Michael Hewson of CMC Markets.