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Weekly Market Review – August 22 − 29 2016

Jackson Hole Symposium will be this week’s primary market-mover

 

Forex

USD/JPY, Daily

USDJPY august 22

The US currency grew last week including against the yen, with the FOMC Meeting Minutes providing the greatest impact.

This week traders should pay attention consumer inflation in Japan will impact the pair’s dynamics this week. Special attention should be paid to the annual Jackson Hole Symposium, which could have long-term impacts on the USD.

 

Stock Market

USA

Dow, Daily

Dow august 22

Last week, major US stock indexes reached multi-year highs on expectations of further stimulus measures by central banks. Positive quarterly reports of US companies provided support for market.

Next week, the focus will be on the US economic statistics.

 

Europe

IBEX, Daily

IBEX august 22

Major European stock indexes stopped its two-week growth last week as profit-taking and post-Brexit worries took their toll. This week, traders should pay attention to this week’s annual Jackson Hole Symposium, which may impact the European indexes.

 

Commodities

Crude Oil, Daily

CrudeOil august 22

Oil traded upwards for most of last week thanks to oil stock reports. Last week, the biggest OPEC producer, Saudi Arabia, said it was on board with the possibility of slashing its production if prices remain low due to oversupply.

But analysts said they see little chance of an agreement among OPEC members to freeze production. Indeed, earlier this year, OPEC and non-OPEC producers failed to reach an agreement on freezing output levels.