US markets finished the week higher, gaining for a third session. Investors continued to react to the FOMC statement and press conference.
Asian markets climbed across the region. The Nikkei gained 0.08% as the Dollar closed higher against the Yen, nearing the key psychological level of 120.
European markets climbed for a fifth day as the Swiss National bank introduced a negative deposit rate. Speculation is also ripe that the ECB could start to buy government bonds. The situation in Greece also looked to slightly improve after the Prime Minister offered a solution to help avoid elections next year. Volatility is expected to decline across all markets before closures for Christmas Eve, Christmas Day and Boxing Day in some European countries.
Oil climbed to a high of 58.4 but then bounced downwards and is notrw trading around 55.5. Over the weekend the energy minister of Saudi Arabia repeated that they will not cut production and blamed non OPEC countries for the glut. In addition, a Barclay’s analyst stated that prices still have further to fall and KCB Energy Economics said they expect prices to be lower through 2015.
Gold declined and almost reached 1,180/ounce. Traders are still weighing the US interest rate hike and the outlook for the US Dollar against economic instability and oil prices.
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