Mar 17


  • BY: Donal Kelly
  • March, 17th, 2016 20:22 +00:00

Good evening,

US indices closed in positive territory, with the S&P500 up 13.37 points at 2,040.59 (+0.66%).  Crude Oil is keeping high its momentum, with the commodity up 1.54 $ at 41.54 $/barrel (+3.85%). Gold is up 26.9$ at 1,256.7 (+2.19%).  Risky assets performance is the consequence of the expectation of dovish central banks. The Swiss National Bank kept interest rate unchanged at -0.75%.  UsdChf is losing 88 pips at 0.9675, testing its February low.  The Bank of England decided  unanimously to keep rates at 0.5%, and tension between the monetary authority and the part of the party in the government are rising because the BoE warned of the risks of a possible brexit. Cable is trading at  1.4480 (+1.57%) and EurUsd , the most traded pair , is up 92 pips at 1.1314.  Interesting situation of UsdJpy after tested successfully the multiple bottom in area 111. The rate failed several time to trade above 114.4 thus given the recent high volatility the risk of another bullish wave that could bring UsdJpy to test new lows should not be underestimated.

Tomorrow the most interesting event in the economic calendar will come from Canada as at 12:30 GMT will be released the CPI and Retail Sales data as well. UsdCad left area 1.3 and is trading at 1.2980 (-0.88%) for the first time since last November after it rose above 1.45 in January when crude oil was panicking. The rally on Oceanic currencies has not stopped yet, with the Kiwi dollar overperforming the Aussie dollar when both are compared against the Greenback.

(20:22 GMT)