Daily Market Review
Welcome to OptionClick’s daily market review. In this section we will cover various assets and provide you with information regarding their current status and the upcoming events that may influence them. Be sure to keep up with the news to make the most of your ventures!
EUR/USD – The pair is down 0.33% and currently trading at 1.2596 despite the FOMC’s positive statements made yesterday regarding the US dollar. The Federal Open Market Committee announced yesterday that it will end its quantitative easing program and expressed a very positive tone regarding future monetary policy. However, with no new announcements regarding interest rates, the US dollar quickly lost momentum against the euro.
Natural Gas – Natural gas has had an uncertain week gains as many weather forecasts predict cold temperatures entering the US from Canada, only to be replaced with other forecasts predicting warm temperatures. Currently, natural gas is trading at 3.715, 32 points down as traders anticipate the next EIA inventory report in order to estimate how demand may shift prices. Weather is one of the key factors that affect natural gas price. As temperatures reach high or low extremes, a reliance on gas for cooling or heating increases demand and drives prices up.
NASDAQ – The index is down 15.07 points and currently trading at 4549.23 following the Federal Open Market Committee’s statements. The statements resulted in a bit of confusion, causing the NASDAQ to react erratically at first. However, the NASDAQ is expected to regain momentum and go higher shortly.
Economic Calendar – In the US, upcoming data releases include oil and energy reports. In the EU, German unemployment data is due to release later today (Thursday) with an expected slowdown.
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