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WEEKLY MARKET REVIEW − November 21-25 2016

FOMC Meeting Minutes will be this week’s main event

 

Forex

USD/JPY, Daily

USDJPY nov 21

Towards the end of Friday almost all the major currencies dropped against the US dollar, with the exception being the Canadian dollar, which traditionally reacts to the oil market. All of the markets recovered from the US election results.

This week the main event is the FOMC Meeting Minutes publication, scheduled for Wednesday 19:00 GMT. Additionally, the Eurozone Services PMI will be published on the very same day.

 

Stocks

USA

Dow, Daily

Dow nov 21

Major US stock indices grew at a historical rate last week. US retail sales and labor market data provided support for stock markets. Janet Yellen’s statement also impacted the markets.

This week economic and political factors will heavily influence the markets.

Europe

FTSE, Daily

FTSE nov 21

Most European stock indices spent last week in a narrow range after European statistics were published. Despite growth from both the German and UK CPI’s, they fell short of the projected forecasts. The FTSE did receive a proverbial shot in the arm, with the UK unemployment rate following to its lowest level in 11 years.

However, European indexes halted their growth, with political uncertainty in France and the Netherlands. This week various European economic statistics will drive the indexes.

 

Commodities

GOLD, Daily

Gold nov 21

Last week gold fell by 1.6% as the US dollar grew. Janet Yellen’s statement and other positive economic statistics provided strong support for US dollar.

Analysts have said that the forecast for gold is bearish as it seems as if the Fed is going to raise rates.