FxPro Financial Services Ltd | Jul 12, 2021 09:23AM ET
Last week was quite unsettling for financial markets, but investor optimism is high at the beginning of the new week. US stocks closed mostly higher last Friday, and Asian indices rallied for relief in Monday's session.
ECB President Christine Lagarde said that she would announce new monetary stimulus rules in the next 10 days after winding down the existing emergency measures on Monday morning. She also said that the ECB would follow a renewed monetary policy strategy at its next meeting, which envisages a temporary inflation tolerance above 2%. Potentially, the PBC and ECB moves show that central banks stick to easy policy, which has brought back demand for risky assets.
However, the bulls have an important test. This week kicks off the corporate earnings season, where record year-over-year corporate earnings growth is expected.
Among individual tickers worth mentioning is Richard Branson's successful flight on Virgin Galactic (NYSE:SPCE). In the run-up to the flight, which took place on Sunday, there was a strong rally in SPCE, but prices stepped down from the highs on Thursday and Friday.
The FxPro Analyst Team
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