Home » Currency Note » Currency Note » Currency Note USD » USD: stock markets rattled around the world

The fallout from the Federal Reserve’s interest rate announcement continued throughout yesterday, as stock markets around the world tumbled. The FTSE 100 hit its lowest level since September 2016 and European shares didn’t fare much better. There is a suspicion that the Fed is wrong to suggest it will hike rates two more times in 2019 and, while Powell said that was not set in stone, it was enough to worry investors.

Initial jobless claims in the US increased by 8,000 to 214,000 up to 15 December 2018. Last week the figure declined by the biggest amount for 49 years, so a rise was expected, but by 10,000.

It is a relatively busy end to the week for US economic data, with November’s durable goods orders the main highlight. The reading is expected to rebound to 1.6% from -4.4% the previous month. We will also see the final reading of the GDP growth rate for the third quarter of 2018 and the personal income and spending figures for November. Finally, the University of Michigan consumer sentiment index will be released around 3pm BST.

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