Published On: Fri, Mar 3rd, 2017

Morning Market Review


During the Thursday trading session the US dollar grew against the main currencies. The main supporting factor is the expectation USA FRS interest rate rise in March meeting. The recent commentaries of the FRS members heat the investors’ interest to buy the American currency. Today the market participants are waiting for the USA FRS members’ speech (20:00 GMT+2). According to the data, published yesterday, the USA Initial Jobless Claims number decreased to the lowest level of the past 44 years (223K WoW against the expected growth to 243K). The decrease of the unemployment will support the interest rate rise.

Despite yesterday positive inflation data in the Eurozone, which showed the growth if the indicator to the level of 2.0% in February, the EUR/USD didn’t receive any significant support. During trading session the pair lowered by 0.37%. GBP/USD lowered by 0.24%. USD/JPY grew by 0.59%. The AUD/USD pair decreased more than the others and lost 1.34%. Gold price lowered by 1.37% due to the growth of the USD and now is testing the support level 1230.05, is case of breakout here the gold will lower further.

The oil price lowered by 2.25% (Brent) and 2.54% (Crude) due to the growth of the USA resources. During the opening session the price is corrected upwards.

The US stock market closed with the lowering.

Dow Jones lowered by 0.59%.

Nasdaq lowered by 0.48%.

S&P decreased by 0.59%.

The European stock market showed mixed dynamics.

The UK FTSE lowered by 0.25%.

The French CAC grew by 1.89%.

The German DAX lowered by 0.12%.

The Asian Nikkei lowered by 0.8% due to the lowering of the oil and mining company. 

Forex Analysis

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