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Weekly Market Review – August 8 − 12 2016 

Earnings reports will continue to impact the US index markets



GBP/USD, Daily

GBPUSD august 8

Two central banks slashed their key interest rates last week − Australia and the UK. At the same time the British regulator decided to buy £60BN of UK government bonds and £10bn of corporate bonds. Both of these actions by the UK caused the GBP to fall. The pair additionally plummeted after Friday’s solid US jobs report, with new jobs totaling 255K along with a 0.3% rise in average hourly earnings.

This week’s main Forex event will be coming from New Zealand as its reserve bank will decide on its future interest rates. Most analysts believe the bank will cut the rates to 2.00% from 2.25%.


Stock Market


S&P500, Daily

SP500 august 8

US stock markets were under pressure during first half of week as oil prices fell to monthly lows. However, a stronger than anticipated US jobs report on Friday reversed the situation strong US labor market data changed the situation. Earnings reports will continue to affect the US indexes this week.



IBEX, Daily

IBEX august 8

Major European stock markets followed the negative dynamics of the oil market. However, on Thursday the UK caused the stocks to jump back up as its national bank slashed the nation’s interest rates. The bank announced additional measures to stimulate the UK economy, including a £100bn scheme to force banks to pass on the low interest rate to households and businesses. Additionally, it will commence corporate and government bond buyback programs.



Crude Oil, Daily

CrudeOil august 8

Last week oil prices fell as there was an uptick in the volume of deliveries from the Middle East, causing prices to dip below $40 a barrel. However, after US inventory reports quotations rose slightly. Additionally strong NFP data provided further support for oil market.