16Dec2020 Market Close: Dollar Drops As Gold And Crypto Pop On Fed Flop, Washington Slop DOW Closes At +45, US Dollar At 90.27, Bitcoin At 20790, Fed Commits To Buying Bonds
Close to close prices hide what was a very noisy day in the markets with bonds, the dollar, and the broadest stock index flat-ish until some last minute malarkey. Headline hockey between The Fed "flop" - not delivering the QE Twist that so many had hoped for (but promising more will come) - and the constant 'optimistic' headlines from Washington over COVID Relief. As a side note, no one seemed to care that US retail sales were a major miss, homebuilder optimism rolled over, and gasoline demand continues to collapse in the US. Just be careful what's under the surface...
Source: econintersect.com
