Published On: Wed, Mar 15th, 2017

Morning Market Review

InstaForex

During yesterday’s trading session, US dollar managed to gain ground against most of its main competitors. There were no important macroeconomic releases yesterday, so investors took their chance to lock in the profits for short dollar positions before today’s FOMC’s session (20:00 GMT+2).

In addition to FOMC’s decision on interest rate, which is the main macroeconomic event of the day, the data on labor market in Great Britain are due today on 11:30 GMT+2, and data on USA inflation will follow on 14:30 GMT+2.

At the end of the day before, EUR/USD decreased by 0.42%.

GBP/USD lost 0.53% on Tuesday, but as Brexit entered its practical stage officially, it grew rapidly by more than 70 points and tested the maximum of 1.2256.

USD/JPY changed insignificantly (-0.08%).

AUD/USD dropped by 0.15%.

Gold quotes continue falling on Tuesday (0.43%), but at the beginning of today’s trading session they were corrected and compensate yesterday’s losses.

After lingering downward movement, crude oil prices grew on Tuesday, influenced by the data from API showing that USA oil reserves were cut by 531K barrels during the week. Brent grew by 0.6%, WTI — by 0.18%. Official data from Energy Information on oil reserves dynamics are due today at 16:30 (GMT+2).

American and European stock markets closed in a red zone yesterday.

Dow Jones index decreased by 0.21%, Nasdaq gained 0.32%, and S&P went down by 0.34%.

British FTSE decreased by 0.13%, French CAC decreased by 0.51%.

German DAX changed insignificantly (-0.01%).

Australian S&P/ASX 200 increased by 0.26%.

Forex Analysis

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