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The dynamics of the global financial markets in 2015. Outlook for 2016

Author

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  • Andrei Rădulescu

Abstract

During 2015 the global financial markets mainly reacted to the monetary policy divergence between the Federal Reserve and the European Central Bank. The launch of the post-crisis monetary cycle in US determined the appreciation of the US dollar for the fifth year in a row. On the other hand, the decisions and signals of FED contributed to the increase of the volatility and of the financing costs and to the adjustments on the stock markets in 2015. For 2016 we forecast the continuity of the upward trend for the US dollar, due to the intensifying divergence in terms of monetary policy (the post-crisis monetary cycle in US vs. the unprecedented expansionary policy in the Euro Area).

Suggested Citation

  • Andrei Rădulescu, 2016. "The dynamics of the global financial markets in 2015. Outlook for 2016," Conjunctura economiei mondiale / World Economic Studies, Institute for World Economy, Romanian Academy, pages 48-53.
    • Handle: RePEc:iem:conjun:y:2016:p:
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