Subscribe to RSS

Market Overview:  Markets recover on central bank officials’ comments

US stocks rose on Monday as the market rebounded after Friday’s selloff following Federal Reserve’s decision on September 17 to keep the rates unchanged. The dollar strengthened, with the ICE US dollar index, which measures the dollar’s strength against a basket of six currencies, rising 1.1%. Bullish comments by Atlanta Fed President Dennis Lockhart that a rate hike later this year is “still operative” bolstered investor confidence in the strength of US economy which was undermined by Fed’s decision not to hike rates due to increased uncertainty about global economy. Earlier Monday morning, St. Louis Fed chief James Bullard also defended the case for raising interest rates in October due to an improving domestic economy. The S&P 500 closed 0.5% higher led by financial and technology stocks. The biotechnology stocks fell after US Democratic presidential candidate Hillary Clinton said she would announce a plan to stop excessive pricing for specialty drugs. Trading was thin at 6.5 billion shares traded on US exchanges, about 21% below the daily average for the past 20 trading days. In economic data, Existing Home Sales declined 4.8% in August to an annualized rate of 5.31 million units. The report had little impact on markets. Today at 14:00 CET July House Price Index will be published. The tentative outlook is positive. At 15:00 CET September Richmond Fed Manufacturing Index will be released. The tentative outlook is positive. And at 23:30 CET FOMC member Lockhart speaks on economy in Alabama.

European stocks closed higher on Monday rebounding from the steepest one-day loss in two weeks on Friday. The euro weakened against the dollar after Peter Praet, executive board member and chief economist of the European Central Bank, said the ECB is ready to expand its program of asset purchases. The ECB is currently buying €60 billion ($68 billion) in public and private debt every month in the framework of the QE program expected to end in September 2016. The reelection of Syriza in Greece bolstered market sentiment, as the party led by Prime minister Alexis Tsipras is expected to continue the economic reforms international creditors insisted on as a condition for the Greek bailout. The Stoxx Europe 600 rose 0.9%. German DAX underperformed as it rose only 0.33%, held back by declining auto stocks after Volkswagen fell as much as 22.8% on news that it falsified US emissions tests. Today at 15:00 CET September Consumer Confidence index will be published in euro-zone. The tentative outlook is negative. Tomorrow at 08:30 CET September Manufacturing, Services and Composite PMIs for Germany will be released by Markit. At 9:00 CET the respective PMIs for euro-zone will be released. The tentative outlook is negative.

Chinese stocks advanced for a third day today with Shanghai Composite Index gaining 0.9% as investor optimism was buoyed by hopes over President Xi Jinping’s state visit to the US. Volatility is still high as China’s economy is slowing down as evidenced by recent manufacturing data and investors are uncertain how long the state will continue providing support to market through state backed funds.

Oil futures prices are declining today after they recovered on Monday most of the loss from a steep decline on Friday. Prices advanced after reports indicated US output could fall as oil and natural-gas projects worth around $1.5 trillion are at risk because of the slump in oil prices.

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

Receive $30 Credit Bonus for Trusted  Broker- FXTM

Receive $30 Credit Bonus for Trusted Broker- FXTM(0)

Switch to ForexTime and receive $30 Trading Credit Bonus. Join the hundreds of thousands of traders around the world who have already chosen ForexTime as a broker and receive $30 Trading Credit Bonus as a thank you for switching. Link:  Up to $200 Cash Bonus this December Link:  Receive $30 Tradeable Credit Bonus Link:  FX

15% Support Margin Bonus and $50 Free Bonus – FortFS

15% Support Margin Bonus and $50 Free Bonus – FortFS(0)

15% Support Margin Bonus Plus $50 No Deposit Bonus to all New and Existing Traders. For Every Traders who passed the verification process in their traders room can get the $50 Free Bonus Link:  $50 Forex No Deposit Welcome Bonus Link: Up to 50% Bonus of Every Deposit Link: 15% Support Margin Bonus As from

Get $34 Forex No Deposit Bonus Contest – Xtream Forex

Get $34 Forex No Deposit Bonus Contest – Xtream Forex(0)

Sign-Up and Get $34 Forex No Deposit Bonus Contest Enjoy Forex Trading Without Deposit. Grab your $34 Forex No Deposit Bonus and start your live Forex trading to win big cash prize. Link: $34 Forex No Deposit Bonus Contest Available to: All new clients Forex $50 No Deposit Bonus Contest Duration? Registration is open till

115% Classic Bonus and $30 Welcome Bonus – RoboForex

115% Classic Bonus and $30 Welcome Bonus – RoboForex(0)

Up to 115% Classic Bonus Promotion and 50% Tradable Deposit Bonus to All RoboForex New and existing clients. 50% Tradable bonus from RoboForex is the type of bonus, which is not cancelled when the equity on your account is below the amount of the bonus funds Link:  $30 Welcome Bonus Promotion Link:  50% Tradable Bonus

Receive 25% Free Credit Bonus on your First Deposit – HYCM

Receive 25% Free Credit Bonus on your First Deposit – HYCM(0)

Get your forex trading off to a flying start. Sign up today and receive 25% Free Credit Bonus on your first deposit. The maximum trading credit bonus awarded under this promotion is US$5,000 Link: 25% Free Credit Bonus on your First Deposit Available to: All new clients Bonus Offer: Sign up today and receive 25%

60% Withdrawal Holiday Deposit Bonus – FXCL Markets

60% Withdrawal Holiday Deposit Bonus – FXCL Markets(0)

60% Withdrawal Holiday Deposit Bonus to All new and existing clients. The 60% Withdrawal Holiday  Deposit Bonus limit is $2,000 per trader. Link: 60% Holiday Withdrawal Bonus Available to: All new and existing clients Bonus Offer: 60% Withdrawal Holiday Deposit Bonus to All new and existing clients The bonus limit is $2,000 per trader. The

Up to 250% Exclusive Trading Credit Bonus – InstaForex

Up to 250% Exclusive Trading Credit Bonus – InstaForex(0)

InstaForex Exclusive Bonus Promotions is unparalleled on the market and gives a matchless opportunity to receive a Exclusive Bonus Promotions in the range of 30% to 250%. Making use of any kind of bonus, you can bump up your live trading account balance after depositing. Link:  Get 250% Bonus for First Deposit Link:  $500 Forex

New Promo-Action Free No Deposit Bonus $50 – FortFS

New Promo-Action Free No Deposit Bonus $50 – FortFS(0)

New Promo-Action Free No Deposit Bonus 50 USD to all New and Existing Traders. For Every Traders who passed the verification process in their traders room can get the $50 Free No Deposit Bonus Promotion Link:  $50 Forex No Deposit Welcome Bonus Link:  500 USD cents Forex No Deposit Bonus Link:  Up to 50% Bonus

Get 500 Cent Forex No Deposit Welcome Bonus – FortFs

Get 500 Cent Forex No Deposit Welcome Bonus – FortFs(0)

Get 500 Cent Forex No Deposit Welcome Bonus 2018-2019 to All New Traders. Open a forex real trading account, pass the personal data verification procedure and get the 500 Cent Free Forex Welcome Bonus! Link:  Up to 50% Bonus of Every Deposit Link:  500 Cent Forex No Deposit Bonus Link:  15% Support Margin Bonus Available

Get 100% Trading Bonus Promotion up to 500 USD – XM

Get 100% Trading Bonus Promotion up to 500 USD – XM(0)

XM is running an exclusive 100% forex trading bonus promo up to $500 for new and existing clients. During the promotional period, new and existing clients will be rewarded with 100% forex trading bonus up to $500 on their next deposit until the bonus amount is reached, additionally to the regular XM promo Link:  $30

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