Dollar weakens as equities adopt calmer tone
Overnight news – affecting PSE
FOMC minutes: Federal Reserve officials anticipated that the rate of economic growth in 2018 would exceed their estimates of its sustainable longer-run pace and that labor market conditions would strengthen further
A number of participants “indicated that they had marked up their forecasts for economic growth in the near term relative to those made for the December meeting.”
Their collective position on inflation, meanwhile, remained one of cautious optimism that it will move toward their 2 percent target in the medium term.
“It was noted that the pace of wage gains might not increase appreciably if productivity growth remains low,” the minutes said. “That said, a number of participants judged that the continued tightening in labor markets was likely to translate into faster wage increases at some point.” Read More @ https://www.tradingfloor.com/posts/morning-report-apac-asia-stocks-slip-over-yield-fears-9290640
Double Dragon Technical Chart
- The price is at 2017 June Low; can the price go lower – YES – If the FED focuses on the rate hike – which is teh way is going to be.
- Philippine Tax implication is also affecting property sales.
- Demand is slowing down as the income versus inflation is not rising.
- DD is a great company and with 50% discounted price – we have started buying the stock @ $34.40.
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