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Weekly market review

Weekly Market Review – July 25 − 29 2016

US Fed meeting will be this week’s primary market-mover

 

Forex

EURUSD, Daily

EURUSD july 25

Better than anticipated US economic statistics caused the currency pair to fall for most of last week. Thus, both the US housing and labor markets showed positive growth. Additionally, the ECB meeting caused the pair to fall. Although the bank decided to keep the status quo, ECB President, Mario Draghi hinted that things may change come September.

This week the pair will be effected by the FOMC Meeting, scheduled for July 26-27.

 

Stock Market

USA

S&P500, Daily

SP500 july 25

A number of influential US companies will publish their quarterly reports this week. So far, this earning’s season positively impacted major stock indexes, with mixed oil market dynamics providing support for energy stocks.

Europe

DAX, Daily

DAX july 25

Major European stock indexes trend upwards thanks to the ECB’s interest rate meeting. Although no changes were enacted, President Mario Draghi indicated that changes may be implemented come September. It should be noted that traders ought to continuously monitor the situation in the UK as it can impact the markets.

 

Commodities

Crude Oil, Daily

CrudeOil july 25

Oil showed a moderate drop at the end of the previous week thanks to US inventory data.  Oil stocks fell less than what was predicted causing the IEA to lower its oil demand forecast. Additionally, the number of rigs rose by 14 units last week, causing prices to fall further.

Weekly Market Review – July 18 − 22 2016

ECB Interest Rate announcement will be this week’s major event

 

Forex

EUR/JPY, Daily

EURJPY july 18

The previous week was chock-full with important events, with the Bank of England’s interest rate meeting taking the crown. Ultimately, the bank decided to keep the rates unchanged, but BOE Governor Mark Carney indicated that monetary easing measures may be enacted at the next meeting.

This week’s ECB meeting scheduled for Thursday 11:45 GMT followed by Mario Draghi’s press conference at 12:20 GMT will impact the pair the most.

 

Stock Market

USA

Dow, Daily

Dow july 18

Last week, major US stock indices reached new multi-year highs, thanks to Japan PM Shinzo Abe’s victory and Theresa May becoming the new UK prime minister.  However, earnings season is what is moving the markets thus far, with numerous quarterly reports surpassing expectations. Furthermore, better than expected Chinese economic data further helped the markets.

This week, quarterly reports will again impact the markets the most.

Europe

FTSE, Daily

FTSE july 18

The FTSE and other European indexes were highly impacted by events Japanese parliamentary elections and the Prime Minister change in the UK. Additionally, the attempted coup in Turkey provided further impact.

This week investors will be awaiting the ECB meeting scheduled for July 21, 11:45 GMT.

 

Commodities

GOLD, Daily

Gold july 18

Gold prices softened thanks to profit-taking as tensions regarding global financial issues eased somewhat. Political situations across the globe calmed down, with Japan and the UK leading the way. Additionally, the better than expected US economic news caused the USD to strengthen, putting further pressure on the precious metal.

 

Weekly Market Review – July 11 − 15 2016

Weekly Market Review – July 11 − 15 2016

Bank of England’s interest rate decision will be this week’s most important event.

Forex

GBP/USD, Daily

GBPUSD july 11

Last week the FOMC Meeting Minutes and the NFP report proved to be the most important events. The Meeting Minutes indicated that future rate hikes will be on hold for some time. The NFP on the other hand proved to be better than expected with the 287K jobs being added. This week is filled with important events with the two most impactful ones being the Bank of Canada’s and the Bank of England’s rate decision, scheduled for Wednesday and Thursday respectively.

 

Stock Market

USA

S&P500, Daily

SP500 july 11

US stock markets fell for the most part last week, with weak oil prices being the primary cause. However, the market rebounded on Friday somewhat thanks to a much better than anticipated NFP report. This week is the start of earnings season, which will of probably impact the markets for the next five weeks.

Europe

DAX, Daily

DAX july 11

On Tuesday the UK real estate funds halted payments to investors, severely hurting stock markets throughout Europe including the DAX. However, positive trends in the commodity markets helped rectify the situation somewhat. Additionally, with Mark Carney, the Bank of England’s Governor assuring investors that additional stimulus measures will be taken, index markets further improved. The Bank of England’s interest rate meeting, scheduled for Thursday 11:00 GMT will move the indices markets the most this week.

 

Commodities

Crude Oil, Daily

CrudeOil july 11

The oil market ended the week with its largest decline since January 2016 due to the Brexit. An increase in the number of drilling rigs didn’t help matters either. It seems that a strong US shale oil recovery may cause prices to fall even further.