After having the worst annual performance since 2003, the dollar continued to struggle in the first trading week of 2018. The dollar index fell to a three-and-a-half-month low to trade below 92, leaving many traders wondering whether this year will be another devastating one for the greenback.
Equity investors across the globe are finding no reasons to take profits after an excellent performance in 2017. Asian stocks are trading at record highs after Japan kicked off the first trading day of 2018, European markets are poised for a higher open today despite cautiousness amid the launch of new market rules from the European Union, and all U.S. major indices closed at all-time highs with S&P 500 breaching 2,700.
Investors kicked off 2018 on a positive note sending U.S. stocks to fresh highs on the first trading day. The optimistic approach on day one was supported by encouraging economic data from China, where the Manufacturing Purchasing Managers’ Index for December beat expectations by coming in at 51.5 versus expectations of 50.6.