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Market Update

EncoreFX’s daily market updates are written by our experienced and professional dealing team.

Market Looks to Trump’s Results on Healthcare Bill; Yellen Speaks Today

Published March 23, 2017
  • The markets will look for headlines from Washington throughout the day as US Congress representatives are set to vote on repealing and replacing Obamacare
  • Investors are viewing this as a litmus test on Trump’s ability to deliver promises on tax cuts and infrastructure spending
  • President Trump is currently garnering support with Congress members to fulfill one of his campaign promises in reforming healthcare; positive market sentiment from the Trump Rally, which saw the US dollar increase along with stock indexes, is contingent upon Trump’s early successes in his first 100 days of presidency 
  • Federal Reserve Chair Janet Yellen will speak this morning in Washington; investors will look for further insight on the Fed’s plans to raise interest rates in the months ahead
  • Minneapolis Fed President Neel Kashkari and Dallas Fed President Rob Kaplan are set to speak today as well; all three members will likely speak on US unemployment claims which rose slightly this morning
  • European stocks held their ground this morning as markets shrugged off any impact of yesterday’s terror attack in London; the great British pound weakened initially only to climb again after refocusing on positive UK retail sales data
  • Previous attacks in France, Germany, Belgium and larger terrorist incidents in England and Spain have shown little lasting impact on economic confidence and overall financial stability