Market Overview Analysis by Ipek Ozkardeskaya covering: EUR/USD, GBP/USD, USD/JPY, Nasdaq 100. Read Ipek Ozkardeskaya's latest article on Investing.com
We are forcefully entering a period of ‘bad news is good news’ as the Federal Reserve moves toward its first rate cut. We don’t know when the Fed will cut the rates – the Fed members themselves can’t tell you that without more evidence of slowing economy and easing inflation as printed by yesterday’s Fed minutes – but we know that the weaker the data the closer the first rate cut.
Both will give the Labour a very large margin to pass whatever reforms they want to pass in the coming years. Normally, investors prefer Conservatives as they have a better grip on spending and debt levels. But this time, even investors want to see Labour take over the reins. For Wall Street, a Labour win is positive for both the UK stocks andCable rallied to 1.2772 yesterday and is consolidating gains near 1.2740 at the time of writing.
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