Market Report: The agenda and the movements of the week
European shares are trading in low trend today, after 8 days of trading up and the seven-week high, Britain’s Index is low 0.43 percent, Germany’s DAX low 0.8 percent, and France’s CAC low 0.7 percent. The FTSE 100 broke all the high levels points in the last days and now is taking profit.
On Monday,Wall Street, S&P 500, Dow and Nasdaq stock indexes all closed at life-time highs, gaining 0.3 to 0.6 percent. The Dow Jones, closed with a rise of 0.32% from the previous session, and stood at 18,636.05 points, the Standard & Poor’s 500 closed up with 0.28% to 2190.15 points. The Nasdaq Composite closed Monday’s session with a rise of 0.56% ending at 5,262.016 points.
Oil prices hit one-month high in the beginning of this week, gaining 10 percent or more in a three-day rally as speculation intensified over potential producer action to support prices amid a glut of crude. This is helping to the oil companies to increase their prices again.
Today, we are going to know the German ZEW Economic Sentiment (Aug), that could improve two tenths in the component current situation (60 points), this event could move the German market and the Euro to a better position. In addition, CPI for GBP and USA will also be provided, with experts estimating that prices in the US could increase by 0.1% in July.
In currencies, the dollar slipped slightly but was broadly stuck in its recent trading ranges as market players look to the minutes from the Fed’s July policy meeting, due on Wednesday. So for the moment, the dollar continues losing power because the investors don’t believe that the Federal Reserve may raise interest rates as they wanted this year.
On Wednesday the minutes of the Fed will be published and also the oil inventories. Both of that news can move the markets. One day later, on Thursday, will be the turn of the minutes of the ECB and eurozone CPI may show a drop in prices of 0.5% in July. US will turn to the manufacturing index Philadelphia Fed should improve from -2.9 points to 1.5 points.
The financial stocks were broadly lower in the opened markets today. Barclays is losing -1% at the moment, and in the last days the stock moved practically without big changes. Is very important to remember that falls without volume can lead us to short-term correction. The support point is: 161 eur.
Graphics by: www.etoro.com
Yesterday reached the resistance of 30.14 and after that level, rebounded sharply lower. The stock ended the session with a rise of + 1%. Today we can see a profit taking on Intel. Resistance level: 35 usd.
Graphics by: www.etoro.com
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