Overview of the world’s major financial markets of 21 October, 2014

China morning pleased markets growth rates above the predicted values​​. GDP in the 3rd quarter grew by 7.3% against the expected 7.2%. However, not all indexes that were happy. Japan’s Nikkei lost 0.67%, the Hang Seng on the results of the trading day up 0.18%, the British FTSE — 1.68%, while Germany’s DAX — on 1,94%. American NASDAQ and DJIA also held trading session in the green zone.

Looked weaker dollar against most currencies in the first half of the day, as positive economic data from China reiterated their support for the interest in riskier assets. Even USD / RUB for the second day in a row did not try to mark another historic high, most of the time spent below 41.00 resistance. USD / JPY more inclined to fall, however, served as 106.20 support level, so a pair of completed trades in the area of ​​106.80. EUR / USD continues to hold below 1.28. Closed trading near 1.2720. GBP / USD tried to go up to 1.6180, but after failing to break down in the area of ​​1.6110 at the close.

Oil prices during the trading day well kept: Brent spent most of the day up 86.00 and closed trading near 86.30.

Precious metals continue to recover, already finding new reasons for this in the form of a gradual flow of capital from the stock markets less economically stable countries. As a result, starting the day at 1246,81, XAU / USD by the end of the trading day snuck into the area 1,249.90 an ounce during the day noting a maximum of 1255.20. Meanwhile, XAG / USD reached 17.64, but went down to 17.50 at the close.

Forecast for Wednesday, Oct. 22

Stock Market

Today will be published protocol of the last meeting of the Monetary Policy Committee (MPC) of the Bank of England. We know that at this meeting there was no radical, but it is very interesting to see the balance of votes in favor of the rate increase. The last time the supporters of an immediate tightening was two. If the number is retained even in the light of the rather weak British reports published recently, it may put pressure on the British FTSE, as moves the expectations of the first increase in the closer choice. The threat of tightening monetary policy — it is always a factor of pressure on the stock market, so it is possible that the index has lost more than 1% in the medium.

Commodities

Oil prices have stabilized in the absence of major economic or political catalysts, keeping close to 86.00 a barrel. From the point of view of technical analysis are two key levels for Brent. Support in 84.25 and resistance at 87.25. Overcoming the upper silt lower limit of this range on the corresponding news background can cause significant traffic to marks 88.75 or 82.75, respectively.

Foreign Exchange Market

USD / RUB trading below 41.00 for the second consecutive day, refraining from the new historical records. Supporting factors for the ruble in the next few days will serve as restore oil prices and the onset of the tax period, stimulating demand for the national currency. In addition, yesterday’s statements by the Prime Minister of Ukraine Yatsenyuk about his willingness to sign a temporary contract for the supply of gas creates a positive backdrop for the ruble trading and provokes expectations on the abolition of the sanctions by the EU. It is possible that the pair will seek to 40.60 area over the coming days.

Today, attention is paid to the USD / CAD, as the night the Bank of Canada will hold a meeting on monetary policy. It should be noted that the Canadian dollar is much oversold due to falling oil prices. However, pay attention to the fundamentals: rising wages, higher prices and a low exchange rate of the national currency may force the regulator to speak much more aggressive than usual. If today will be received certain hints at tightening monetary policy in the near future, it may push USD / CAD below 1.1170.

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Overview of the world's major financial markets of 21 October, 2014 | Web Trade For All - Forex trading, analytical reviews of the market and help for beginners