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FOMC Statement May Set a New Pace in the Markets

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Currencies

  • The euro (EUR) managed to break its previous resistance and climbed up to 1.2569 against the US dollar (USD). The euro advanced ahead of the FOMC statement due today at 19:00 GMT as investors are watching for signals from the Fed of rising interest rates.
  • The US dollar (USD) continues the decline as drops down to 115.55 against the Japanese yen (JPY). The yen continues to rise as investors are shifting towards safer assets due to the substantial slump of oil prices and after Shinzo Abe election.

Equities

  • The US equities collapsed as there are concerns about global economic growth. The US 500 (SPI) declined down to 1969, the US 30 (DOW) dropped from 17429 to 17050 and the US Tech (NDQ) fell to 4083.

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Yen Trades at 117 as Abe Gets Ready for Abenomics 2.0

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Currencies

  • The euro (EUR) remains range bound between 1.2413 and 1.2485 against the US dollar (USD). The single currency is paused ahead of the PMI services releases across the Eurozone. Better than expected results may push the euro higher.
  • The US dollar (USD) continues the downside as it reaches its one month low at 117.10 against the Japanese yen (JPY). The yen advanced as Shinzo Abe is preparing for Abenomics 2.0 in order to boost economic growth.

Equities

  • Japan 225 (NKI) collapsed down to its 6-week low at 16693, as the yen gains ground and energy prices continues the decline.

Commodities

  • WTI Crude (OIL) and Brent Oil (BRT) resume the decline as they reached new lows at 55 and 60 US dollars per barrel respectively. The energy prices continue the downside as OPEC decided to maintain its production and failed to act in order prevent further decline.

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Yen Advances as Abe Wins the Elections

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Currencies

  • The euro (EUR) climbed from 1.2383 up to 1.2485 against the US dollar (USD) on Friday. The single currency advanced after several officials of the ECB diluted the hopes for quantitative easing in the Eurozone. As a result, the euro continues strengthening as there are no improvements in the European economy.
  • The US dollar (USD) slid down to 117.77 against the Japanese yen (JPY) early in the weekly session. The yen gained ground after the elections in Japan and Shinzo Abe gained more than two-thirds of the seats and he is promising about a fresh mandate of policies.

Equities

  • US equities slumped as the drop of oil prices signals weakness for global economic growth. The US 500 (SPI) dropped down to 1994, the US 30 (DOW) declined to 17228 and the US Tech (NDQ) fell to 4182.

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Oil Records New Record Low

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Currencies

  • The euro (EUR) rose for four consecutive day against the US dollar (USD) at 1.2486 ahead of European Targeted LTRO. The European Central Bank (ECB) will decide the value of the money they will create and use them to loan the Eurozone banks. The monthly German and French Final CPI will be announced with expectations at 0% and 0.2% increase.
  • The US dollar (USD) continued its bearish trend yesterday against Japanese yen (JPY) to 117.59. Yen earlier today was under pressure on speculations that Prime Minister Shinzo Abe’s Liberal Democratic Party will win the elections this weekend and continue with his monetary policy measurements that resulted into yen drop. Today the US monthly Retail Sales will be announced with expectations of rising by 0.4%.

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