Weekly Market Review – September 26-30 2016

Weekly Market Review – September 26-30 2016

 

The 15th International Energy Forum is this week’s main event

 

Forex

EUR/USD, Daily

EURUSD

Last week, the Fed kept the interest rates unchanged. This put pressure on the USD, although the probability of a rate hike at the meeting in December increased slightly. The central banks of Japan and New Zealand also left the monetary policy settings unchanged, but stressed the possibility of a reduction in the following meetings.

This week will be full of economic statistics, among which stands out the data regarding personal income and spending in the United States. Also, there will be new data on Eurozone CPI published.

 

Stock Market

USA

NASDAQ, Daily

NASDAQ

The NASDAQ started the week in a fairly narrow range. Investors were waiting for central banks’ interest rates decisions. Because the rates remained unchanged in Japan, U.S and New Zealand, the stock markets received support.

However, in the second half of the week the major US stock indexes recorded a fall, due to weak US data. In addition, the negative dynamics of oil put some pressure.

This week traders will look towards US economic statistics.

Europe

DAX, Daily

DAX

The dynamics of European stock markets followed the trends in the US. European investors paid attention to the heads of European banks’ statements. Thus, the performance of the ECB disappointed investors, because they expected more drastic measures later this month.

This week, trading dynamics will depend on energy companies.

 

Commodities

Brent Oil, Daily

BrentOil

Prices rose last week, due to data on oil stocks from the US. The oil stocks volume decreased.

Meanwhile, the 15th International Energy Forum starts is taking place this week.

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