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Weekly Market Review – September 26-30 2016  

Central banks will be the main market movers this week

Forex

GBP/USD Daily

GBPUSD september 26

Last week three countries had interest rate decisions to make. However, when it was all said and done Japan, the US and New Zealand all left them unchanged.

This week a few central bank heads will have press conferences and the US and the UK will report their GDP data on Thursday and Friday respectively.

Additionally, investors should tune into the German inflation report on Thursday followed by the Eurozone on Friday.

 Stock Market

USA

Dow, Daily

Dow september 26

During the first half of the trading week, most major US stock indices including the Dow were in a narrow range, with the Fed’s interest rate decision up ahead. Oil’s dynamics also impacted Dow. Once Wednesday came and the US Fed left the rates unchanged, the stock markets rallied. Solid US labor market data provided strong support.

Durable Goods Orders and consumer inflation in the US, scheduled for Wednesday and Thursday will impact the US index markets.

Europe

FTSE, Daily

FTSE september 26

European stocks have spent last week trending up as the market anticipated that the Bank of Japan will increase stimulus measures. Although the rates remained the same, Bank of Japan head, Kuroda stressed that rates will be lowered should the need arise. Furthermore, support for the stock markets continued to grow as the Fed and the Reserve Bank of New Zealand kept their interest rates the same.

This week, investors will pay a lot of attention to the German labor market and consumer price reports in both Germany and Eurozone.

 

Commodities

Crude Oil, Daily

CrudeOil september 26

“Black gold” started last week strongly as traders are waiting for OPEC meeting. Meanwhile, reports on US oil stocks impacted the trading dynamics.

Today OPEC’s International Energy Forum started. It will conclude on Wednesday, September 28.