Published On: Mon, Mar 13th, 2017

Midday Market Review


Today the US dollar is trading controversial. After the morning growth the USD is growing again in expectation of the USA FRS interest rate rise on Wednesday meeting. Now the EUR/USD is trading at the area of 1.0650, USD/JPY — 114.80, AUD/USD — 0.7560. The EUR is also pressed by the uncertainty of this week parliamentary elections in the Netherland. One of the leaders is an extreme right “Freedom party”, and its leader Geert Wilders calls upon the Government to hold a referendum about Netherlands leaving the EU, which affects the EUR negatively.

Today the GBP grew against the USD and reached the level of 1.2240 (by 0.67%) due to the discussion in the UK Government about the possibility of holding new referendum about the Scotland separation. The Scotland First Minister Nicola Sturgeon demanded to hold the referendum in order to Scotland can negotiate with the EU independently. Still the Prime Minister Press Secretary Theresa May said that the time to hold the referendum is not appropriate, and the Scotland voted to stay in the United Kingdom two years ago. The commentaries affected the market positively.

Today the metals follow the EUR/USD. The metals fell after the morning growth, and now gold is traded in the area of 1202.30, silver — 16.90. The traders’ attention moved from the ECB meeting, where the tightening of the monetary policy was implemented, to the upcoming USA FRS Meeting, where the interest rate is expected to be raised.

After the fall on Friday due to the growth of the USA oil rigs count (617) oil is trading in the narrow sideway channel: Brent — 51.10-51.60, WTI — 48.50-48.90. The traders are waiting for the FRS decision and the new USA oil resources data.

Today the key European and US indices slightly grew: FTSE100 to 7370.0 (by 0.33%), DAX — to 11989.0 (by 0.37%), CAC40 — to 5002.0 (by 0.30%), DOW — to 20900.0 (by 0.17%), S&P 500 — to 2371.0 (by 0.16%). Still the market is quite flat, as the investors are waiting for the key economic releases of the week.

Forex Analysis

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