AMID the view that the Fed won’t speed up the pace of monetary tightening and after G20 financial leaders dropped a pledge to keep global trade free and open, the US Dollar Index came under selling pressure, falling by 0.6% this week to close at 99.73.
The S&P 500 dropped by 0.1% with funds flowing out of all sectors except for utilities. On the macro front, industrial production stalled in February from January 2017 from a decline of -0.1% m/m in January. Existing home sales declined by 3.7% m/m in February to 5.48 million compared to 5.69 million in January.
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