Debt Ceiling, USD Rally, Oil, FOREX, Indices & Crypto | Weekly Market Wrap with Joe Jeffriess
We appreciate your presence as we conclude another eventful trading week. Thank you for joining us.
The USD was a top gainer this week, pushing higher and knocking risk majors lower. The AUD was the hardest hit, while the JPY took a mini breather and did try to push at a comeback. The US debt ceiling remained a key influence, with dealmakers yet to find an agreement and this did create a fair bit of volatility. The DOW fell, but the Nasdaq managed to fire back up yesterday, hitting both new weekly and yearly highs.
The Minutes showed that rate rises might slow but remain data-dependent. This continues to push expectations of a hold next month. On the data part, the PCE index is due today, and US employment data is due next week. These both could have some bearing depending on what is released.
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