MONDAY: The week looks to open with a 100 point bounce, but still relatively a small one when compared to Friday’s plunge and hopeful that there will be some further strength coming from this week’s FOMC Statement and Chairman Yellen’s press conference.
TUESDAY: The second casualty of falling oil, after US equity markets, is now the Russian Ruble, after an overnight jump in the Bank of Russia’s key rate, up to a 1979 like 17%. That reversed very early gains in the pre-open futures, despite further drops in oil.
WEDNESDAY: Some moderation in the Russian currency this morning ahead of the FOMC Statement release. It would be hard to beat yesterday in terms of volatility and ups and downs. Hopefully today it stays in just a higher direction.
THURSDAY: Higher oil prices and Putin going on 3 hours for his annual address to the nation boith seem to be adding to the optimism from yesterday’s FOMC committment to low interest rates.
FRIDAY: It would be hard to top the past two days, but the market may close out the week without just giving it all back, having come on the heels of the worst week in years.
“SNEAK PEEK AT NEXT WEEK” APPEARS ON FRIDAYS