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On Wednesday, the party continued for world stocks as they reached new highs as European markets joined. Analysts believe these early indications reveal that the upcoming year global growth will endure.
Following Tuesday’s largest one day-gain in over two weeks, MSCI’s index of global stocks which tracks shares in 47 countries, was driven to new record highs. The pan-European stock index gained 0.2 percent following increases for their Asian and U.S. counterparts overnight as manufacturing surveys indicated a strong start for the European economy. U.S. stock futures also pointed to an additional higher open for Wednesday…..Read More Now
THE HERALD FINANCE REPORT
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On Wednesday, the dollar broke its three-week downward trend as investors strengthened positions prior to the releasing of the manufacturing data and minutes of the December U.S. Federal Reserve meeting. Market strategist remain pessimistic of the dollar’s outlook on concerns that potential U.S. rate hikes are already largely priced into the markets.
On the day, the greenback recovered 0.3 percent to 92.10 after losing 2.5 percent over the past three weeks. Regardless of the recent overhaul of the U.S. tax code passed by U.S. policymakers in late-December, market analysts believe the absence of inflation pressures will continue to drive the dollar down….Read More Now