Strong results from tech giants pushed the Nasdaq and the S&P to record highs. Weak business spending data pushed Treasuries higher and the dollar lower. Gold fell as strength in global equities diverted interest from the precious metal. Yemen worries buoyed Brent while U.S. oil fell on supply concerns.
The inflation in the Euro Zone have been coming down sharply since 2012 and now there is a risk that the market could be pricing a â€œprinting jobâ€ from the ECB similar to the US some years ago. EIKON Polls Estimates on EUR/USD. On the other hand, we see a constant flattening of longer-run unemployment