It has certainly been a chaotic trading week for the global equity markets amid fears of mounting inflationary pressures and higher interest rates. Asian shares suffered heavy losses during early trading on Friday following Wall Street’s steep declines overnight.
Global equity markets struggled for direction during Wednesday’s trading session, with investors on the fence as activity continued to decelerate ahead of the upcoming Christmas holiday break. Sterling nudged higher against the Dollar on Wednesday morning as market players awaited Bank of England Governor Mark Carney‘s appearance before Parliament.
U.S. equity markets are poised to open a little higher on Friday, as we await the passage of tax reform through the House of Representatives giving Donald Trump his first major legislative victory since coming to office.
After the thin volume by high volatility of last week we could well be looking at more of subdued start to the week as volume returns and US traders returning to their desks try and decipher last week’s moves.