Markets react positively to Fed comments

Markets react positively to Fed comments

UK and European markets have opened higher today after the US Federal Reserve stated on Wednesday that the US economy would continue to be supported by its bond buying program “until substantial further progress has been made toward the Committee’s maximum employment and price stability goals.”

Positive vaccine news and optimism regarding the prospect of an imminent UK EU post-Brexit trade deal are also helping sentiment this week. Ursula von der Leye, President of the European Commission, said an agreement was closer and issues linked to governance had been resolved, but differences remain over the level playing field and fisheries.

Both sides in the US stimulus negotiations seem to be confident that a deal around $900 billion is close. This would include a further direct payment to consumers.

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