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!
The pair is down 15 points and trading at 1.3348 as its downward trend continues. The German central bank announced that the Eurozone’s economic growth is expected to slow down during the rest of the year due to the Ukrainian conflict which weighs down on business confidence. Traders have bought in to the US dollar’s recent rally against the euro and the currency’s lack of ability to break past resistance points leaves it at risk. The US dollar index, a composite that pits the dollar against a group of currencies is up from 81.436 to 81.572 as of Friday. Monday has shown home-builder confidence has risen to its highest level in the last 7 months. On Thursday the annual meeting of central bankers will occur. It is expected that Janet Yellen, the Federal Reserve’s chairwoman will argue for decreased lending rates, which are currently near zero.
Recovering some losses, gas is currently trading at 3.815. Gains are attributed to traders buying in ahead of this week’s inventory report. However, the CPC forecast for the next 10 days reaffirms the shift to warmer temperatures mostly in the western areas of the US. Until winter, when demand for gas is increased for heating purposes, the current moderate weather will reduce demand for gas consuming devices, thus pulling down on prices.
US Dollar Index
the dollar index bounced off the 81.40 level, pointing towards continuing consolidation for the time-being. Breaking above 81.60, which is not a long way from the current 81.572, should indicate that the market is on its way up. Long term predictions are aiming at 84 as the target level. Overall, traders are not selling at the moment and continue to hold a positive outlook for the index.
The material provided on this market review and the linked websites is not intended to be your only source of information when you are making financial decisions. OptionsClick™ is not a financial advisor. The information provided should be treated as a guide only and it is not a substitute for independent professional advice. You should seek independent professional advice relevant to your particular circumstances.
OptionsClick™ have made every effort to ensure that the material published here is accurate.
OptionsClick™ takes no responsibility or accept no liability arising from:
- Errors or omissions.
- The way in which any material is interpreted.
- Reliance upon any material.
- The contents or reliability of any linked websites.