US stocks climbed as GDP data came out above expectations. Strong gains were seen the day before after the Fed decided to end quantitative easing and made hawkish remarks regarding the labor market.
Asian markets rallied as the Bank of Japan made a surprising decision to extend monetary stimulus.
European markets are higher today in reaction to the Bank of Japan’s decision. Gains are also being seen after the European CPI increased.
Oil has decreased sharply despite positive US GDP data. The drop is being caused by the US dollar which is appreciating from decisions by the Bank of Japan and Federal Reserve.
Gold also declined strongly and is currently trading around $1,164/ounce, its lowest price since 2010. Hawkish comments from the Federal Reserve boosted sentiment and increased the outlook for the economy making Gold a less attractive asset.
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