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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.