Review of the world’s major financial markets from January 7, 2015

Less aggressive than expected, the tone of the last FOMC meeting minutes was able to restore calm in the stock markets and positive mood. Hong Kong’s Hang Seng (HSI) at the end of trading day added 1.4%. Meanwhile, Britain’s FTSE added almost 1%, while Germany’s DAX closed at 0.8% in the black. US stock indexes were also able to recover part of the incurred losses since the beginning of the week.

It should be noted that the currency market on Wednesday rather reluctantly responded to the economic developments, although representatives of the Fed fears about the state of the world economy is still led investors to doubt that the rate increase will happen in April. The US dollar has suffered the greatest losses against the yen, and other currencies against the weakened only slightly. USD / JPY all day fighting for the right to close above $ 119.00, and she succeeded. GBP / USD after the upgrade with a minimum in July 2013 at the level of 1.5053, retreated to the area of ​​1.5115. EUR / USD fell to a nine-year low of 1.1801, recovering only in the area of ​​1.1847 at the close. USD / RUB spent trading in a relatively narrow range 61,37-63,55.

Crude oil futures updated for at least the first half of the day, but were able to recover losses after the release of the report, which confirmed the reduction of oil reserves in the US tanks. Brent opened trading at $ 51.04 per barrel, the updated 5.5-year low of $ 49.64, completing traded at around $ 51.

Precious metals are in consolidation mode with weak attempts at growth. As a result, XAU / USD closed at around $ 1214.60 per ounce, rolled away from the opening level of $ 1217.95 and silver — went to 16.50.

Forecast for Thursday, January 8

Stock market

As we expected, the protocol of the last FOMC meeting was less aggressive than many had hoped, and it pleased the US stock markets. Indeed, concerns about global economic growth, as well as problems in Europe and Asia may force the Fed representatives not to rush to the tightening of monetary policy. At least, that these feelings and forced the US indices recovered yesterday. Moreover, a further correction up we can see today in preparation for the market to the results of a report on the labor market, tentatively due next Friday. Thus, NASDAQ-100 (NQ) and the Dow Jones (YM) can still be expected to return to the region 4250, and 17800, respectively.

Commodities

Brent prices rebounded slightly in response to a reduction in US oil inventories. However, as a whole, yesterday’s report was not so positive for the energy market. Yes, indeed, oil reserves have declined, however, we note that the reserves of distillates, which include heating oil and diesel, rose by a record 11.2 million, and the volume of gasoline increased by 8.12 million barrels. So after prolonged growth of oil reserves recent decline — a drop in the sea. Perhaps more quotes Brent responded to the correction factor after the update the next multi-year low. However, we do not exclude the likelihood of continuation of correctional growth of the asset after a long period of falling. We reiterate our short-term positions for purchase on approaching the $ 50 for the purpose of $ 54.80 per barrel.

Foreign exchange market

USD / RUB can not find the strength to leave less than 60-item markers, and all the fault of the quotations Brent. However, there is one positive thing — yesterday’s attempt to break the oil price of 50 dollar mark not sent the ruble to the new «anti-record». If the level of $ 50 per barrel would be strong enough support and could cause prices to strengthen Brent, we can expect the return of the pair below 60.00.

EUR / USD yesterday had time to note the 9-year low, despite the fairly positive data that came yesterday from Germany. The fact remains — although the German economy is feeling pretty good, the rest of the eurozone continue to teeter on the brink of recession and deflation is looming on the horizon, especially against the background of falling energy prices. And this should soon get the ECB to decide on a full program of QE. Even doubt will soon raise rates from the Fed yesterday failed to help the euro recover significantly. This means that any strong catalyst (for example, strong data on US labor market) may send a couple of below 1.18 with the immediate goal at the level of 1.1660.

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Review of the world's major financial markets from January 7, 2015 | Web Trade For All - Forex trading, analytical reviews of the market and help for beginners