Weekly Market Review – September 12-16 2016
Bank of England is the main market mover this week
The US currency closed last week in downtrend due to negative statistics on the US economy. The largest US dollar’s drop was after the services’ PMI publication.
Also, last week’s ECB decision on interest rates was announced. The regulator left the rates unchanged.
This week the main event is the Bank of England interest rate decision, which is scheduled for Thursday at 11:00 (GMT).
The index showed negative dynamics at the end of the last trading week. Stocks fell slightly due to a weak NFP report.
In addition, the North Korea’s nuclear test on Friday impacted the markets.
ECB decision on interest rates was the main event last week. Unfortunately the European regulator did not extend stimulus measures. Additionally, traders were distressed about North Korea’s nuclear weapons test.
This week the focus of investors’ attention will be on central banks’ interest rate decisions.
Brent Oil, Daily
Last week the oil market showed growth. Oil quotations rose sharply due to the agreement between Russia and Saudi Arabia. US data on oil stocks showed decrease.
At the same time, oil stocks worldwide are growing. According to Baker Hughes’ service, the number of active rigs in the US grew for the fourth month in a row.