A very erratic tone for global equity markets into late 2018 and to start early 2019, but the first week of the new year ended on a positive with risks skewed towards the upside.
A global equity market selloff into the Christmas holiday was then followed by a robust rebound before the end of the year, during very erratic, illiquid trading activity.
The start of the year on Wednesday 2nd January saw a guidance warning from Apple, that triggered a “flash crash” in FX markets, but the subsequent rebound into the end of last week have seen positive technical developments for the major, global equity indices.
On the fundamental side, a strong US Employment report, a somewhat dovish Jerome Powell and the upcoming US-Sino trade talks point to upside potential into mid-month for the major equity markets.
Here we spotlight the S&P 500.
See the full article here: https://www.fxexplained.co.uk/forex-articles/current-market-analysis/equity-markets-basing-efforts/