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

25% Forex Credit Bonus on their First Deposit – HYCM

25% Forex Credit Bonus on their First Deposit – HYCM(0)

25% Credit Forex Bonus Promo available on your Deposits. Experience Some of HYCM New Features, Services and Offers Receive 25% Forex trading credit bonus Link:  25% Trading Bonus on your Deposits Ending Date:  31 December 2017 Available to:   New Clients only Bonus Offer: 25% Forex Trading Bonus Promo Available on your deposits to New Clients only.

$25 Deposit and earn $5000 Cashback Bonus – UFX

$25 Deposit and earn $5000 Cashback Bonus – UFX(0)

100% Forex Real Money Cash-back Bonus Promotion to all new and existing clients. Join and gain exclusive access to the ONLY online trading 100% Forex Cashback rewards bonus program Link:  100% Real Money Cash-back Promotion Link:  $50 Forex No Deposit Bonus Promotion Available to: All new trading account Ending Date: 31 December 2018 Bonus offer:

Weekly Demo Trading Contest – Adamant Finance

Weekly Demo Trading Contest – Adamant Finance(0)

Weekly Forex Demo Trading Contest 2017 total amount of the prize fund is 1300USD. We announce traders’ contest for all who want to take part and to gain prizes. Link:  $50 No Deposit Welcome Bonus Link:  Weekly Forex Trading Contest Available to: All new and existing clients. Ending Date: 31 December 2017 Contest offer: Forex

$30 Fx Bonus to Your Account Completely Free – Fidelis

$30 Fx Bonus to Your Account Completely Free – Fidelis(0)

Get $30 No Deposit Fx Bonus Promotion in your Fidelis CM account and start your forex trading career. Open your new trading account with Fidelis CM in a few simple steps and get your $30 Fx Free No Deposit Bonus credited in your account. Link:  $30 Forex No Deposit Bonus Completely Free Available to: All

Free Forex Trading Signals Promotion – Forex Time

Free Forex Trading Signals Promotion – Forex Time(0)

FXTM Free Forex Trading Signals Spotting Trading Opportunities Just Got Easier and Up to 200% Withdrawable Cashback Rebates and get $4 Cashback back for every lot you trade. Link:  Free Forex Trading Signals Link:  Loyalty Cashback Promotions Link:  200% Withdraw able Cashback Rebates Ending Date: 31 December 2018 Available to: All Customers Bonus Offer: ForexTime

Free MT4 VPS plus 100% Welcome Bonus – FXGiants

Free MT4 VPS plus 100% Welcome Bonus – FXGiants(0)

FXGiants is offering its valued Trader  the exclusive 100% Maximiser Forex Welcome Bonus. Be rewarded with this unique offer and maximise your trading potential with NO limits. Link:  $35 No Deposit Bonus Promotion Link:  100% Maximiser Deposit Bonus. Link:  20% Bonus Advantage up to $2000 Available to: All new trading account Bonus offer: $35 No

$1000 Welcome Deposit Bonus Promotions – eToro

$1000 Welcome Deposit Bonus Promotions – eToro(0)

Get Forex Welcome Deposit Bonus Promotions code by eToro Forex Broker. Trade over 900 global instruments with most advance and friendly trading platform. Link:  Top Copy Trading Social Platforms Link: Up to $1000 Welcome Deposit Bonus Available to: All new account Ending Date: 31 December 2018 Bonus Offer: Get Forex Welcome Deposit Bonus Promotions code

$50 Forex No Deposit Welcome Free Bonus – ForexBull

$50 Forex No Deposit Welcome Free Bonus – ForexBull(0)

$50 Forex No Deposit Welcome Free Bonus is available to all new clients of ForexBull as well as for those who still haven’t got any previous No Deposit Welcome Free Bonuses from the company. Link:  $50 Forex No Deposit Welcome Bonus Available to: All new trading account Ending Date: 31 December 2017 Bonus offer: $50

Forex Global Demo Trading Contest 2017 – AETOS

Forex Global Demo Trading Contest 2017 – AETOS(0)

The AETOS Capital Forex Global Demo Trading Contest 2017, with weekly prizes and overall championship prizes to win! The total prize of the contest is worth $10,000*! Link:  Global Forex Demo Trading Contest Available to: All clients Ending Date: 31 December 2017 Contest offer: Global Forex Demo Trading Contest Top prize worth $10000 As one

100% Double Dynamo Bonus up to $10000 – FXPRIMUS

100% Double Dynamo Bonus up to $10000 – FXPRIMUS(0)

100% Double Dynamo Bonus Forex on up to $10,000 plus up to $4 cash back Rebate Bonus for every lot traded! Be rewarded with this incredible offer which is available for a limited time only Link: 100% Double Dynamo Bonus Available to: All New and Existing Clients Ending Date: 31 December 2018 Bonus offer: 100%

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