23 March, 2016
Here are the most important events in the financial markets for today that every trader should know.
European Equities Recover from Brussels Attack
European stocks rallied today as markets recover from the terrorist attack on Brussels. The German DAX edged up by 1 percent, while France’s CAC40 gained by 0.7 percent.
British Pound Plunges Amid Worries on Brexit
The British pound continued to weaken against the greenback and the euro, as the Brussels attacks were seen as boosting the possibility of a British exit from the European Union.
US Oil Futures Drop Ahead of Weekly Supply Data
The prices of oil were down today amid speculation that the weekly supply data, which is scheduled to be released later in the session will show that US crude stockpiles increased at a faster than anticipated pace during the previous year.
At the time of writing, US crude is trading lower by 2.41 percent, while Brent oil is down by 2.06 percent.
Greenback Surges to 1-week High on Hawkish Fed
The US dollar soared to a 1-week high against a basket of major currencies, supported by hawking comments by the Federal Reserve.
On Tuesday, Philadelphia Fed President Patrick Harker remarked that the US central bank should consider another interest rate increase as early as the following month. Moreover, he also said that he would prefer at least three hikes before 2016 ends.
On the other hand, Chicago Fed President Charles Evans asserted that he anticipates two more interest rate hikes this year, if the domestic economy stays on track.
Market players kept their guards up as they await the US labor data report, a strong reading of which could urge the Federal Reserve to increase interest rates this month – a decision that would be bearish for non-interest bearing gold...
The US economic growth has been sluggish in the first quarter, although not as strongly as initially expected, amid an increase in spending on home architecture and a constant increase in inventory investment by business...
Oil prices increased more than 1 percent on Monday after Goldman Sachs stated that the market has ended for nearly two years of oversupply subsequent to a global oil disruptions and a market deficit...
The Australian and New Zealand dollars rallied against the greenback on Wednesday, but gains were anticipated to stay capped by lower prices of crude oil...
World stock markets rallied on Tuesday, fueled by a strong corporate earnings in Europe, including improvements on Greek debt talks and Japan’s new pledge in preparation to a weaker currency...
Gold prices ticked higher as the greenback slid to 16-month lows during the session earlier. On the Comex division of the New York Mercantile Exchange, gold delivery for June rallied at $1,303.85 per troy ounce, advancing $6.55 or 0.51 percent...
Analysts forecast that Germany DAX would hit 0.06 percent higher when the market opens, while France’s CAC 40 was anticipated to remain steady. Meanwhile, UK markets are closed due to a public holiday.
Shares in the U.S. plummeted following the decline of the stocks in the Asian market as the Bank of Japan left the interest rate unchanged...
Wall Street futures dropped on Friday after the Dow issued its first decline of more than 1% in two months, while investors are closely watching on data...