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Daily market overview – 18/05/2016

 Breaking News
  • Global demand for oil grows The International Energy Agency (IEA) has published a very interesting study. So, in the next five years, global oil demand will grow about 1 million b/d every year. This means...
  • Tesla to build its fourth factory Elon Musk said that the company was planning to build the first plant in Europe. The German capital has been chosen for this purpose. It will be the fourth plant...
  • Facebook Pay is new payment system of famous social network The well-known company Facebook has announced the launch of its own electronic payment system Facebook Pay. Through the company’s official blog, we have found out that the service will operate...
  • Amazon to open a new supermarket chain in the States Amazon, the largest US online retailer, already owns several supermarket chains. The first of them called Whole Foods was purchased in 2017 and cost $ 13.7 billion. The chain specializes...
  • Energy Market News Today, at 8 a.m. Moscow time, Brent crude futures rose $ 0.14 (or 0.23%) – to $ 62.32 per barrel. We recall that yesterday the asset price lost 0.53% ($...

Daily market overview – 18/05/2016

Daily market overview – 18/05/2016
May 18
09:00 2016

The green bank outperformed in overnight trade, rising against its major counterparts amid building Fed rate hike speculation, the upcoming FOMC meeting later today is the next critical point for major currency. Rhetoric suggesting that the markets are underestimating the US central bank’s determination to raise rates again in the near term as well as the extent of tightening on tap this year is likely to encourage continued gains for the greenback. It may likewise trigger risk aversion, threatening to deliver outsized losses to the sentiment-linked Australian, Canadian and New Zealand Dollars.

Yesterday’s oversold rally was eradicated within 24 hours as the S&P 500 fell 0.94% and the NASDAQ 1.25%. Indexes were in the red but not that heavily before the afternoon when some waves of selling hit the market. Even with the slightest hint a rise in interest rates may come in play in the future, traders became upset and sold stocks. European markets opened lower on Wednesday, amid higher trade in the oil price, as comments from U.S. Federal Reserve officials suggested a rate hike could come sooner than expected.


Key Market data Wednesday – May 18th:

08:30 – GBP: Average Earnings Index + Bonus.

08:30 – GBP: Claimant Count Change.

09:00 – EUR: CPI.

14:30 – USD: Crude Oil Inventories.

18:00 – USD: FOMC Meeting Minutes.

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