William Dudley’s Resignation Hints Highly Anticipated
US shares don’t show any significant dynamic after hitting maximums on Friday. Last week was a pretty memorable one as we got important employment data, tax reform details and found out who will become the next Fed Chair. This week will be less eventful. Today, Eurozone featured services and composite PMIs. The indicators turned out to be a bit weaker than projected but still pointed at improvement. Sentix investor confidence marked a truly good result, reaching the 10-year maximum. Euro is muted, showing no reaction to this data.
William Dudley is scheduled to deliver a speech today, he will talk about the post financial crisis condition. New York Fed President is going to resign after Jerome Powell takes over. This might be due to his friendship with Janet Yellen. Donald Trump began his 11-day Asia visit, which is also catching traders’ attention. The President is supposed to talk about North Korea and trade ties with Asian countries.