Global Markets: Yellen’s statement moved the stocks to record while dollar fell


European shares joined the rally, which moved global stocks to record levels after Janet Yellen shared her expectations about that the Fed would not be hasty to end the cheap currency period. In Europe, the dollar rallied while most of the money was depreciated against large currencies.

MSCI All Countries World Index reached the record of all-time while European stocks gave almost two months’ biggest two-day gain after Yellen’s statement showing her confidence in the US economy, signaling that monetary tightening would be gradual. The Bloomberg Dollar Spot Index has dropped to its lowest level since September.

Yellen’s presentation turned attention away from Donald Trump‘s son’s e-mails. However, concerns remain that the recent incident in Washington will cut back on tax reforms and efforts to increase spending.

The Stoxx Europe 600 Index climbed 0.4% at 08:28 New York time and widened its 1.5% earnings on Wednesday. MSCI All Countries World Index rose 0.2 percent to record level.

S & P 500 futures increased 0.1 percent. The benchmark index closed down 0.4 percent below the closing record on Wednesday.

The dollar depreciated against most major currencies and the dollar weakened to its lowest level since September 22nd. On the other hand, the Pound gained 0.4% and came in at 1.2939. The euro did not change much at $ 1.1414.

West Texas Oil, wiping losses, did not change much at $ 45.48 per barrel. Gold price saw a flat rate of 1.220.20 ounces per ounce after earning three days of earnings with low interest rates.

In the United States, the interest on 10-year Treasury bills rose by 2 basis points to 2.33 percent.

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Global Markets: Yellen’s statement moved the stocks to record while dollar fell

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