Subscribe to RSS

Forex Market Overview:  US markets awaiting Fed policy statement

On Tuesday the US stock market was in decline influenced by the unexpected fall in US October consumer confidence and awaiting the results of the Fed two-day meeting on monetary policy and the US GDP to be released on Thursday. The markets were also concerned about the upcoming Apple earnings data. The trading volume on the US exchanges was in line with the 20-day average. The dollar strengthened with the ICE US dollar index, a measure of the dollar’s strength against a basket of six major currencies, rising 0.06% to 96.92. The Dow Jones Industrial average live chart showed the index dropped 0.24% and S&P 500 index fell 0.26% with all its sectors being in the red except for healthcare (+1.11%). Starwood Hotels&Resorts Worldwide Inc. added 9.13%, Corning Inc increased 5.42%, Wyndham Worldwide Corp edged 5.41% up while Cummins Inc. lost -8.70% and Xerox Corp. lost -7.34%. The natural gas prices fell recently to nearly three-year lows and to the bottom of August 2009 which weighed on the energy sector with CONSOL Energy Inc. slumping -21.2%, second-biggest U.S. natural gas producer Chesapeake Energy Corp stocks plunging almost 6% and Range Resources Corp extending Monday losses by 2.4%. The Consol stocks were also hurt by the weak earnings report in Q3. Meanwhile, Alibaba stocks jumped 4% on the release of the better-than-expected earnings report. Today at 13:30 CET the October US advance good trade balance will be released, the tentative outlook is positive. At 15:30 CET the various oil and gasoline inventories statistics will come out. Tonight at 19:00 CET the Fed will announce its rate decision. Markets are currently estimating the probability of the US Fed interest rate hike this week at 7% with the majority of market participants expecting the rates to be raised next year and waiting for clues from the policymaker.

The European market dropped on Tuesday dragged down by the slump of BASF and Novartis stocks. The EUR/USD pair was flat on Tuesday showing insignificant fluctuations around 1.1050. The FTSEurofirst 300 index declined 0.7% yesterday having reached the 9 week high last Friday. The STOXX 50 index lost 0.6%. The German DAX 30 and French CAC 40 indices fell 1% each. The multi-national chemical manufacturing corporation BASF stocks fell by 5% after the company reduced down its full-year earnings due to the weaker-than-expected sales in emerging countries. The pharmaceutical group Novartis stocks lost 1.4% on the news its Q3 core net income less than expected. Another pharmaceutical company Shire (UK) rallied 5.7% on Tuesday amid the positive results of its new medicine trials. Today in the Eurozone the October German Consumer confidence survey was published, the reading was in line with consensus-forecast at 9.4. No more significant economic news are expected today from Europe.

Asian markets were declining too after the whole month of growth as investors were closing positions and staying out of the market awaiting the US Fed and the Bank of Japan meetings due on this week. The Japan’s Nikkei index lost 0.8% still staying close to its 8-week high. Meanwhile, Hang Seng and Shanghai composite index edged up 0.1% each.

Crude oil prices continued extending losses for the third day yesterday with Brent losing 1.5% and hitting a six-week low at $46.81 a barrel. WTI fell 2.8% to $43.20 a barrel. The unseasonably warm weather made markets cautious about the possible decrease in oil products consumption and pushed oil prices lower. In general commodities markets remain under pressure because of the descending demand from their major consumer China and the global supply glut.

Copper prices were steady at $5206 a tonne.

More Details

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

$3500 Free No Deposit Bonus in a Minute – Insta Forex

$3500 Free No Deposit Bonus in a Minute – Insta Forex(0)

Get $3500 Free No Deposit Bonus in a Minute from InstaForex no need to risk your own money if you have already got funds to earn more money. The $3500 Free No Deposit Bonus in a Minute from InstaForex is an exciting opportunity to start Forex live trading. Link:  $500 Forex No Deposit Free Bonus

Forex Circuits Live Trading Contest 2017 – Forex Time

Forex Circuits Live Trading Contest 2017 – Forex Time(0)

ForexTime latest Live Contest Win cash prizes from a $400,000 total prize pool. FX Circuits rewarding clients with real, withdrawable from a $400000 total prize pool.* Link:  FX Circuits Live Trading Contest Link:  Demo Forex Trading Contest Link:  Loyalty Cashback Promotions Link:  200% Withdraw able Cashback Rebates Available to:   New Clients only Contest Offer: ForexTime

$200 Forex Free No Deposit Pushup Bonus – FreshForex

$200 Forex Free No Deposit Pushup Bonus – FreshForex(0)

FreshForex finally launches long-awaited $200 Forex Free No Deposit Pushup Bonus Broker. With FreshForex new bonus every new client registered with us through special link within promotion period gets $200 to the trading account. Link:  $200 No Deposit Pushup Free Bonus Ending Date: 16 September 2018 Bonus Offer: $200 No Deposit Welcome Pushup Bonus for

$30 No Deposit Forex Welcome Bonus Campaign – Tickmill

$30 No Deposit Forex Welcome Bonus Campaign – Tickmill(0)

$30 No Deposit Forex Welcome Bonus Campaign to All new traders. $30 Free Forex Welcome Account is available to all new clients who expressed a wish for it during the registration process. Link:  Weekly Demo Race Trading Contest Link:  $30 Free Welcome Bonus Campaign Link:  Forex Monthly Live Trading Contest Available to: All new traders

300% Tradable Bonus plus Free Signals – Markets Yes

300% Tradable Bonus plus Free Signals – Markets Yes(0)

300% Forex Tradable Bonus Promotion and Risk Free Trade plus Forex Free Signals all New and existing clients. MarketsYes is offering all prospective clients deposit for up to 3000 USD/EUR/GBP a 300% Tradable Deposit Bonus. Link:  300% Tradable Bonus Promotion Link:  Risk Free Trade plus Forex Free Signals Available to: All New and existing clients

150% Binary Options Deposit Bonus Promotion – NordFX

150% Binary Options Deposit Bonus Promotion – NordFX(0)

Up to 150% Bonus for a First Time to binary options live trading account. For a perfect start, we offer you a 150% binary options bonus for a first-time $5,000 deposit. Link:  Up to 150% Bonus for a First Time Link:  100% Withdrawable Deposit Bonus Link:  55% Deposit Bonus Promotion Link:  DemoCup contest  prize fund

The Best Indonesian Forex Traders Party – FBS Inc

The Best Indonesian Forex Traders Party – FBS Inc(0)

The Best Indonesian Forex Traders Party 2017. Free tickets for any kind of transport are available only for Indonesian Forex Traders. Link:  The Best Indonesian Traders Party Link:  $123 Free Special Bonus Promotion Link:  100% Deposit Bonus Promotion Link:  $88.8 Lucky No Deposit Required Bonus (for Malaysian traders) Ending Date: 31 December 2018 Bonus Offer:

Win $100 Binary Options No Deposit Bonus – AYREX

Win $100 Binary Options No Deposit Bonus – AYREX(0)

Win $100 Binary Options No Deposit Bonus in just one hour $3600 total monthly prizes. No deposit required Bonus. Open to all AYREX demo account holders created automatically upon registration and used solely for contest participation Link:  Win $100 Binary Options No Deposit Bonus Link:  $30 Binary Options No Deposit Bonus Link:  30% Binary Options Deposit

25 USD Free Cash Bonus No Deposit Required – Xtrade

25 USD Free Cash Bonus No Deposit Required – Xtrade(0)

$25 Free Cash Bonus No Deposit Required plus $30 Account Verification Forex Free Cash Bonus to all eligible clients. Start Forex Trading with Xtrade Broker and Get a $30 plus $25 Free No Deposit Required  Bonus (T&C applied) Link: $25 Free Cash Bonus No Deposit Required Link: $30 Account Verification Free Cash Bonus Link:  60%

100% Withdrawable Deposit Bonus up to $5000 – NordFX

100% Withdrawable Deposit Bonus up to $5000 – NordFX(0)

Up to 150% Bonus for a First Time to binary options Account. For a perfect start, we offer you a 150% bonus for a first-time $5,000 deposit. Link:  Up to 150% Bonus for a First Time Link:  100% Withdrawable Deposit Bonus Link:  55% Deposit Bonus Promotion Link:  DemoCup contest  prize fund is $42000 Available to:

read more

Forex Featured Broker

Contacts and information

ForexDepositNews.com Forex Deposit Bonus, Forex No Deposit Bonus, Forex Live Contest, Forex Demo Contest, Free Forex Bonus Forex Brokers Review and Other All Forex promotions.

ForexDepositNews.com

Social networks

Most popular categories