Feb 17


  • BY:
  • February, 17th, 2016 20:23 +00:00

Good evening,

positive market sentiment on US indices this week as the gauges will close in positive territory for the third consecutive session. The S&P is at 1,924.66 (+1.53%), up 29.08 points and Nasdaq Composite is gaining 2% at 4,524.77.

The Federal Reserve Minutes showed that a combination of low commodities prices, increased market volatility and decreased global growth made the debate regarding the interest rate curve more unclear as risks to US economy increased.  Equities already discounted the FED Minutes as the bulk of the gains were made from the end of the last week and now indices are off their intraday highs.

Crude Oil jumps 1.57$ to 30.61$/barrel (+5.41%) after the KSA-Russia agreement on output. Precious metals are flat with Gold trading at 1,208.5 (+0.02%) and Silver at 15.33 (-0.06%).

In the FX market EurUsd is flat at 1.1138 and UsdCad is dropping 137 pips to 1.3726 (-0.98%).  Kiwi and Aussie dollar are also gaining around 1% versus the Greenback as commodities currencies are rallying.

The Asian session will be rich of important events: at 00:30 will be the turn of the Australian Employment Rate and at 01:30 will be the turn of the Chinese CPI.

(20:15 GMT)