Weekly Market Review – July 25 − 29 2016
Fed’s Interest Rate decision will be this week’s main event
The pair strengthened last week as a slew of positive US economic data swept the markets. This week the Fed’s FOMC Meeting is scheduled for July 26-27 and the decision will be published at 18:00 GMT. Almost all analysts believe that no changes will be implemented, but it is the accompanying statement that will garner the most attention.
Additionally, the Bank of Japan will conduct it interest rate meeting on July 28-29, with results being made known to the public on Friday 3:00 GMT.
By the end of the trading week major US stock indexes thanks to a bunch of positive quarterly reports. Additionally, support for the securities market boosted oil prices. This week earnings season continues in the US with companies including Apple, Twitter, Alphabet and Amazon present their quarterly reports.
Most major European stock indexes including the FTSE 100 didn’t particularly grow all that much. This week the Bank of Japan’s meeting will probably impact the markets.
Brent Oil, Daily
Oil trended negatively at the end of last week as reports from the Institute of Petroleum and US Department of Energy. According to both reports oil stocks fell less than what was expected, causing prices to fall. Additionally, the number of operating oil rigs grew by 14 units, putting further pressure on the oil market.