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WEEKLY MARKET REVIEW – October 31 – November 4 2016

The NFP will be this week’s most impactful event

 

Forex

EUR/USD, Daily

EURUSD october 31

Traders should pay a lot of attention to upcoming US economic data before the Fed’s upcoming meeting that is scheduled for later on this week. Other central banks will including Australia’s, the UK’s and Japan’s will conduct their meetings this week as well.

Meanwhile, this Friday the all-important NFP report will be released.

 

Stock Market

USA

Dow, Daily

Dow october 31

Quarterly reports were the main market movers last week. Positive data on US economy additionally provided strong support for the market. This week will feature the Fed’s meeting scheduled for November 1-2, and the NFP report scheduled for November 4.

 

Europe

FTSE, Daily

FTSE october 31

Quarterly reports additionally impacted the European markets. It is expected that profits of the largest companies in the region will fall by an average of 4%, which could pressure the stock markets. This week interest rate meetings from major central banks will drive the markets.

 

Commodities

GOLD, Daily

Gold october 31

Gold traded mixed last week but remained in a fairly narrow range at the same time. The US currency put some pressure on the pressure on the precious metal as traders are expecting the Fed to raise rates. The largest drop in gold prices occurred on Wednesday after the US PMI came out much better than expected. However, high demand for gold in India is giving the commodity a nice boost.