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Weekly market review

WEEKLY MARKET REVIEW − April 3-7, 2017

Friday’s NFP report will be this week’s most impactful event.

 

Forex

AUD/USD, Daily

20170403_2_AUDUSD

Most major currencies traded with mixed results against the dollar last week. Earlier in the week the Trump’s failed health care reform plan hurt the dollar. However, since Tuesday the US dollar has for the most part recouped its losses thanks to better than expected US economic statistics. Additionally, US Federal Reserve representatives mentioned that the US economy may require additional rate hikes.

This week will feature the Reserve Bank of Australia’s interest rate decision, scheduled for 4:30 GMT. Investors will additionally pay attention to the FOMC Minutes, scheduled for Wednesday 18:00 GMT. However, the most impactful event week will be Friday’s NFP report.

 

Stock Market

United States

Nasdaq, Daily

20170403_2_Nasdaq

Last week, the main US stock indexes grew modestly. Negative news regarding failed vote of the medical reform was outplayed by strong economic statistics. Rising oil prices helped prop up the market. In the coming week, investors will focus on US economic statistics.

Europe

FTSE, Daily

20170403_2_FTSE

The official start of the Brexit procedure was the dominant event that impacted the European Stock exchanges last week. Market participants closely followed developments and the reaction of EU representatives. Despite the beginning of the divorce between the UK and the EU, the market has not yet fully considered the possible consequences of such a move in prices.

 

Commodities

Brent Oil Futures, Daily

20170403_2_BrentOil

Oil rose by $2 last week. It was caused by interruptions in oil supply from Libya, where the armed confrontation has escalated recently. In addition, the growth in US oil stocks was not as large as most experts expected. Meanwhile, investors expect that participants of the production-cut deal will extend it for another six months. Nevertheless, the number of existing drilling rigs is increasing, which may lead to an imbalance of the market.

 

WEEKLY MARKET REVIEW − March 20-24, 2017

Fed’s Janet Yellen statement will impact the markets this week

 

Forex

NZD/USD, Daily

NZDUSD

Last week almost all of the major currencies grew against the US dollar. Last week’s most important event was the FOMC Meeting and it did not disappoint. The Fed raised the rates by 0.25%, but Janet Yellen’s statement was softer than what most investors expected. Traditionally, market participants recorded profits after the US dollar strengthened significantly.

This week traders are waiting for another Janet Yellen statement. Additionally, the Reserve Bank of New Zealand will conduct its interest rate meeting at 20:00 GMT. This Friday Eurozone manufacturing and services PMI will be presented. On the same day, Canada will report on consumer price inflation.

 

Stocks

USA

S&P500, Daily

SP500

Most US stock indices closed last week in the green zone. The main drivers for the stock markets were shares in the financial sector. Investors were waiting for the Fed’s decision on the interest rates. American regulator will not rush with the next increase in rates. This situation makes investing in securities profitable for investors. Meanwhile, the securities market is also reacting to the change in quotations of “black gold”. Last week, oil traded in a narrow range with some pressure down. Nevertheless, the US economy has recently demonstrated a decent growth, which is reflected in the quotations of securities. The focus of attention in the upcoming week will be US statistics, as well as the performance of representatives of the US Federal Reserve.

 

Europe

FTSE, Daily

FTSE

European stock markets closed the week with positive dynamics. Meanwhile, the political events of the region drive markets. So, on Wednesday there were elections to the Parliament of the Netherlands. Investors feared that a radical party, which is committed to withdrawing from the European Union, can win the elections. Traders are also worried about Brexit start so UK assets are under pressure. This week EU economic statistics will impact markets.

 

Commodities

Brent Oil Futures, Daily

BrentOil

Quotations of “black gold” spent last week in a narrow range. Nevertheless, oil grew by 0.4%. Meanwhile, the unexpected reduction of US inventories provided support for oil. At the same time, traders are worried that Russia and Saudi Arabia increased oil production.

WEEKLY MARKET REVIEW − March 13-17, 2017

Interest Rate Decisions will Move the Markets this Week

 

Forex

GBP/USD, Daily

GBPUSD

The euro grew for the second week in a row but most of the main currencies including the pound lost about 0.5% against the US dollar last week. The largest decline was with the New Zealand dollar − 1.55%.

Last week’s main focal points were interest rate meetings featuring the Reserve Bank of Australia and the European Central Bank. As most analysts expected, both banks kept their monetary policy settings unchanged. ECB President Mario Draghi did however stress that the rates will remain the same for a while. Nevertheless, starting from April, the quantitative easing program in the euro area will be reduced by €20 billion a month. The NFP report did provide some impact, with it coming in better than expected along with a better than anticipated unemployment rate. Despite this, average wage growth did not reach the average forecasts of experts, thereby reducing the overall impact.

The coming week will be full of impactful economic news, with Wednesday’s FOMC Meeting taking center stage. Additionally, on Thursday national banks in Japan, Switzerland and the UK will make their interest rate decisions. Though most analysts believe that the banks won’t change their monetary policies.

 

Stocks

USA

Dow, Daily

Dow

US stock indexes declined by about 0.5% last week. The largest drop came via the pharmaceutical and energy companies. This happened after Trump’s statement about drugs being too expensive. Nevertheless, better than expected US labor market data helped the US indexes

This week the FOMC Meeting will be the main focal point.

 

Europe

DAX, Daily

DAX

Most European stock indexes spent the past week in a narrow range. Traders are focused on the upcoming French presidential elections as well as the Bexit. Meanwhile, Thursday’s past ECB meeting provided support for stocks.

This week traders will pay a lot of attention to central banks’ meetings of US, Japan, Switzerland and the UK.

 

Commodities

Brent Oil Futures, Daily

BrentOil

“Black Gold” experienced its worst week of the year so far. So, by the results of trading last week, oil prices fell by 8%. Such dynamics were caused by fears of investors about the increase in oil production in the US. This was also indicated by reports on reserves from API and the US Department of Energy, stocks grew to multi-year highs. At the same time, the volume of oil production in the US returned to the level preceding the fall in prices for this energy carrier. US currency’s growth put additional pressure on oil.

Against this backdrop, investors preferred to record profits on transactions for the purchase of oil. It is worth noting that the number of open positions for “black gold” on the New York Mercantile Exchange is at historic highs.

WEEKLY MARKET REVIEW − March 6-10, 2017

NFP will be this week’s main event

 

Forex

EUR/USD, Daily

EURUSD

Most major currencies fell against the US dollar at the end of the last week as statements from Fed officials positively impacted the US currency. Last Wednesday US president Donald Trump confirmed his intention to reduce taxes, but also noted that in order to implement these reforms it would require one trillion dollars.

This week the Reserve Bank of Australia will announce its interest rate at 3:30 GMT. Additionally, the ECB will set its interest rate as well at Thursday, 12:45 GMT, followed by ECB President Mario Draghi’s press-conference at 13:30 GMT.

This week’s most impactful event is the NFP report, scheduled for 13:30 GMT.

 

Stocks

USA

S&P500, Daily

SP500

Major US stock indexes closed last week in the green zone. US President Trump’s speech provided strong support for the markets causing the US stock indexes to reach new highs. During the second half of the week, investors took profits after a week of significant growth.

 

Europe

FTSE, Daily

FTSE

European stock markets were impacted by the continuous political problems in the region including the French presidential election. However, positive US stock market dynamics added optimism to European investors. This week’s most impactful event in the region is the upcoming ECB meeting, scheduled for Thursday, March 9.

 

Commodities

Brent Oil Futures, Daily

BrentOil

Oil spent last week engulfed in a downward trend. Drilling activity in the US increased, putting some pressure on the oil market. Additionally, US crude stocks grew on a weekly basis. At the same time, the strengthening of the USD keeps pushing oil prices downwards.

This week investors will watch for changes in the scope of production and reserves.

WEEKLY MARKET REVIEW − February 27 – March 3, 2017

Trump’s statement will drive the markets this week

 

Forex

USD/CAD, Daily

USDCAD

The pair closed last week with mixed results. The euro declined thanks to the slew of political problems plaguing the EU. Traders paid a lot of attention to the Eurozone business activity index. Despite positive data, the EUR became cheaper on a wide range of markets.

Meanwhile, last week’s FOMC Meeting Minutes publication. Despite the positive tone, uncertainty regarding future policy decisions of the new American president might force the Fed to postpone imposing a rate hike.

US president also will speak today at 21:00 GMT. This Wednesday at 15:00 GMT will feature the Bank of Canada’s interest rate decision followed by Fed Chair Janet Yellen’s statement on Friday at 18:00 GMT.

 

Stocks

USA

Dow, Daily

Dow

Last week most major stock indexes finished trading in the green zone, marking another rallying week. Additionally, positive economic statistics and a good quarterly results having been pushing indexes such as the Dow up. This week investors will look for clues pertaining to the next rate hike with upcoming speeches from Fed officials.

 

Europe

DAX, Daily

DAX

Last week major stock indexes in Europe grew except Friday when investors chose to lock in their profits after experiencing significant growth.

At the same time, the ECB’s soft monetary policy provided support for the euro. Additionally, positive oil dynamics adds optimism to investors.

 

Commodities

Brent Oil Futures, Daily

BrentOil

Last week oil traded upwards. According to recent data, voiced by representatives from OPEC, the conditions at the moment are carried out at 90%. Meanwhile, in the US on the contrary there is drilling activity growth due to relatively high prices. This week traders will look after data on US oil stocks.

 

WEEKLY MARKET REVIEW − February 20-24, 2017

FOMC Meeting Minutes will be main event this week

 

Forex

USD/JPY, Daily

USDJPY

The past week was full of economic statistics, chiefly with the UK, US and Chinese consumer inflation data published last week. Traders additionally paid attention to British and US labor market data.

US and China Inflation grew but in UK it fell. Nevertheless, the US labor market has traditionally proved its strength. Meanwhile, the British data, especially on the average wage, disappointed market participants. At the same time, the main event last week was US Federal Reserve Chair Janet Yellen’s report. Against this background, all the major currencies except Japanese yen fell against US dollar.

This week the main events are the FOMC and Bank of Australia Meetings Minutes’ publications.

 

Stocks

USA

NASDAQ, Daily

Nasdaq

The US stock market set new records once again. All three major US stock indexes reached new historical highs thanks to positive data on quarterly reports.

Meanwhile, the rally in the US stock markets began after Donald Trump become US president. Last Thursday, he reiterated the promise to reduce the corporate income tax from 35% to 15%.

This week traders will look after Fed representatives’ statements.

 

Europe

FTSE, Daily

FTSE

Major stock indexes in Europe showed an upward trend thanks to European companies’ reports. Also, the relatively low rate of the European currency automatically increases the value of the securities.

This week traders will wait for performances of European officials.

 

Commodities

Brent Oil Futures, Daily

BrentOil

Last week “black gold” closed with fall due to strong US dollar. The resumption of oil production in the US could trigger excess of supply over demand in the world market. Oil reserves increased last week according to API. Meanwhile, a further drop hinders the execution of the transaction conditions to reduce production volumes.

This week traders again will wait for reports on oil stocks.

WEEKLY MARKET REVIEW − February 13-17, 2017

The week is full of full of important events

 

Forex

EUR/USD, Daily

EURUSD

Last week almost all the major currencies fell against the US dollar. The only exception was British pound, which grew by 0.06%. The Euro really came under pressure thanks to the political crisis throughout the Eurozone.

This week traders should pay attention both the German and Eurozone GDP, scheduled for Tuesday. Additionally, the UK Consumer Inflation index will be published as well. Furthermore, the UK and Australian labor market reports will come out on Wednesday and Thursday respectively. However, this week’s most important event is the US Fed report.

 

Stocks

USA

Dow, Daily

Dow

The US market rally continues due to earnings season and Trump’s tax reforms. Because of these two factors the major US stock indexes updated their previous historical highs. Additionally, increasing oil prices supports the energy sector. On the other hand, investors expect that the Fed will not rush to increase the rates.

Quarterly reporting season is almost finished so the stock market this week will be heavily influenced by general economic news.

 

Europe

DAX, Daily

DAX

Last week’s dynamics were positive except the Monday session on February 6 thanks to negative statements by ECB president Mario Draghi. He said that there is a need to continue the QE program. At the same time he noted that can be reduced if necessary. Additionally, support for stock markets had positive economic statistics.

This week traders should pay attention to German and Eurozone GDP data. UK labor market data will influence the index.

 

Commodities

Brent Oil Futures, Daily

BrentOil

Oil trended downwards during the first half of the week but the situation changed. This week investors will carefully look after reports of OPE and International Energy Agency of the global oil market

WEEKLY MARKET REVIEW − January 30 – February 3, 2017

The NFP report is this week’s main event

 

Forex

USD/JPY, Daily

USDJPY

The US dollar traded with mixed results last week. US President Donald Trump impacted the pair. However, it was the US manufacturing sector that moved the markets the most last week. Meanwhile, Q4 GDP disappointed investors, which was below the average forecast.

This week will feature three interest rate decisions. First off, the Bank of Japan will meet on Tuesday, followed by the US Federal Reserve on Wednesday and the Bank of England on Thursday.

However, the NFP report, scheduled for Friday at 13:30 GMT will be this week’s main event.

 

Stocks

USA

S&P500, Daily

SP500

US stock exchanges continued to rally last week. At the end of the week, all three major stock indexes added about 1.5%, with the NASDAQ gaining the most.

This week the US Fed meeting will influence the markets.

 

Europe

DAX, Daily

DAX

European stock markets also showed growth last week.

Support the stock market had a European statistical data. Thus, the business activity in the manufacturing and services sector recorded growth. UK labor market and the GDP showed growth.

This week Eurozone GDP and Bank of England interest rates decision will be main event.

 

Commodities

Brent Oil Futures, Daily

BrentOil

Last week oil traded upwards. However, once Friday came around oil prices regressed thanks to high than expected US production volumes. With high prices for “black gold” US shale miners once again returning to the market, as their work becomes profitable.

This week traders will pay a lot of attention to supply and demand of oil.

 

WEEKLY MARKET REVIEW − January 23-27 2016

US and UK Q4 2016 GDP will be the main events this week

 

Forex

GBP/USD, Daily

GBPUSD

The USD last week continued its correction against its major competitors. Last week’s main event was the International Economic Forum in Davos, Switzerland, as well as Donald Trump’s inauguration. These two events had the most impact on financial markets.

It is worth noting that at the moment political factors have had a notable impact on the economy. Additionally, traders paid a lot of attention to British Prime Minister Theresa May’s speech concerning the Brexit.

Last week’s uncertainty prompted investors to abandon US assets and buy traditional defensive assets such as gold and the yen. This week investors should pay a lot of attention to UK and US GDP data.

 

Stocks

USA

Dow, Daily

Dow

Major US stock indexes closed last week in red. The Dow dropped by 0.29%, the S&P fell by 0.24%, while the NASDAQ recorded a fall of 0.34%. Trump’s phrase about the “to expensive dollar” impacted stock markets.

However, US Fed Chair Janet Yellen’s speech provided some support for the markets and US dollar. It should be noted that earnings report is still occurring in US.

Europe

FTSE, Daily

FTSE

European stocks additionally fell, with the FTSE 100 recording the largest decline thanks to fear of a “hard” Brexit. The ECB’s decision to leave the interest rates unchanged additionally impacted the markets. Furthermore decline in oil prices put additional pressure.

This week economic policy statements from Donald Trump have the potential to heavily impact the markets.

 

Commodities

Brent Oil Futures, Daily

BrentOil

Oil fell last week as there was plenty of speculation that major oil producing countries will not adhere to a production limit. Additionally, countries such as Iraq, Libya and Nigeria agreed to the deal, but increased their production volumes anyway. At the same time, the US shale oil producers regularly increasing production, aided by relatively high oil prices. This week the US dollar will drive oil market.

 

WEEKLY MARKET REVIEW − January 16-20 2016

ECB and Bank of Canada interest rate decisions will impact the markets the most this week.

 

Forex

EUR/USD, Daily

EURUSD jan 16

Last week’s main event was of course Donald Trump’s press conference. Traders expected to hear some insight pertaining to Trump’s economic policy see. However, that did not occur, causing the US dollar to drop temporarily. However the currency was in-line for a long-overdue correction.

Additionally, the Fed talked last week about potentially raising rates at least twice this year. That provide some support for the dollar. This week interest rate decisions by the ECB and the Bank of Canada will move the currency market.

 

Stocks

USA

S&P500, Daily

SP500 jan 16

US stock indexes rallies stopped last week. It should be noted that investors prefer not to open large positions during the quarterly reporting season, which started last week. At the same time, positive US economic statistics provided some key support for stocks.

This week, traders are waiting for Donald Trump’s inauguration.

Europe

DAX, Daily

DAX jan 16

Major stock exchanges in Europe followed the dynamics of the US markets. Oil was the main market-mover. Additionally, ECB Meeting Minutes further impacted markets.

This week traders are waiting for British Prime Minister Theresa May press-conference scheduled for January 17. Additionally, the ECB meeting will impact stock markets.

 

Commodities

Brent Oil Futures, Daily

BrentOil jan 16

Oil showed downward dynamics at the week’s start as traders were worried about OPEC agreement. Additionally, Iran and Iraq have increased the supply of oil to the world markets.

Meanwhile, the news that Saudi Arabia is going to reduce supply helped oil. Additionally, in Russia due to abnormally cold weather, oil production was reduced by more than what was originally agreed to.

This week will two publications will impact US oil stocks. Additionally, traders should pay attention as there will be a steady production reduction of oil volumes.