Morning Market Update – Slow Week for the Market

San Francisco’s Federal Reserve Bank President John Williams stated that the Fed will begin to reduce the $4.5 trillion balance sheet and strengthen the monetary policy later this year. Williams said that “The US economy is about as close to the Fed’s dual mandate goals on maximum employment and price stability.” With the ongoing Spring Bank Holidays and Memorial Days, the market shall not see any major shifts in the weekend and will continue to remain at a slower pace.

Spain’s retail sales came in at 0.9% and remained the same when compared to the previous values. Switzerland’s Employment Level was last seen at 4.912M and may not have any major impact if they continue to maintain the same levels. Euro’s private loans and M3 Money Supply might show a slight dip in the markets today. Italy’s Trade Balance and Retail Sales may continue to move at a slower pace for the day.

The only major news comes from ECB’s President Mario Draghi and the bank is unlikely to lift the negative deposit rate or stop expanding its balance sheet this year.
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