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What happend on the markets this week and what to expect from the next one
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Loading...This week was positive for the stock market. Sentiment was strongly positive after the price of oil reached the psychological level of $ 50 a barrel, the likelihood for rate hikes in US increased and the Eurogroup agreed for a new loan for Greece amounting to € 10.3 billion.
On the forex market biggest gainers were British pound and Canadian dollar, and the biggest decrease we saw was by the euro. Positive sentiment for the pound continued after likelihood of Brexit remained low.
The yen also decreased due to the risk-on sentiment on the markets.
Gold saw fourth week of decline and now reached a horizontal support, overcoming a series of diagonal support on its way south.
Next week will be very dynamic, as the attention of market participants will be directed mainly to the ECB interest rates decision on Thursday and Non-farm payrolls in the US on Friday.
On Monday, interest will be toward CPI in Germany and Current account in Canada.
On Tuesday, the spotlight will fall on data from Eurozone CPI, the GDP of Canada and US Consumer Confidence.
Wednesday we will concentrate on manufacturing PMI data from China, USA and UK, and we will watch alse the GDP data from Australia.
On Thursday, except the ECB meeting and interest rates also we concentrate on OPEC meetinh and oil inventories in the US. Important will be the news from Australia on retail sales and the trade balance.
On Friday, the week will end with data for Non-farm payrolls in the US and unemployment rate. Market participants will also monitor and Services PMI in the UK and the trade balance of Canada.
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