Indices: Last week saw minor changes to the world’s leading indices, while all eyes were on Ukraine’s political crisis which reached a boiling point. US stock market movements were driven by speculations about a possible change in the Fed policy on the QE (Quantitative Easing) programme. The S&P500 erased 0.08% from its value; the Dow was down 0.24%, while the technological Nasdaq100 rose by the minimal 0.05%.
In Europe, investors’ moods were also strongly influenced by the uncertain political future of Ukraine and a weekly indices change was almost non-existent. All stock markets closed with slight declines, with the only exception being France’s CAC40 which, supported by upbeat data from the French economy, ended the week with a growth by 0.67%. A deal that will secure a cash injection by a Chinese firm to car giant Peugeot was accepted by investors as a positive sign for the French economy. China’s Dongfeng company reached an agreement with the French government to receive a 14%-stake in Peugeot in return for a €800-million investment in one of the world’s largest automobile manufacturers.
Forex
Chart movements on the Forex market were very limited, mostly due to lack of interesting data. The most traded currency pair EUR/USD increased by 40 pips on Friday to close at 1.3737. The GBP/USD lost a little over 100 pips to end the session at 1.6637, the AUD/USD erased 70 pips from its value, while the USD/JPY took the opposite direction and rose by 76 pips to reach 102.56.
Commodities
There were positive changes on the commodities markets scene. Gold gained 0.37% to close at $1323 per troy ounce on Friday, while silver rose by 1.77% to end the period at $21.79. US oil futures also traded on the green, with weekly profits for investors reaching 2%.
What to expect this week?
Monday’s focus will be on the Eurozone Consumer Price Index for January (MoM and YoY) and the Preliminary Release of US Markit Services PMI for February. Tuesday will include Germany’s GDP for Q4 (QoQ and YoY), the UK’s Mortgage Approvals and Inflation Report Hearings, and also US Consumer Confidence for February. On Wednesday investors will turn their attention to the Preliminary Release of the UK’s GDP for Q4 (QoQ and YoY), the US New Homes Sales for January, and New Zealand’s Trade Balance. On Thursday will come the turn of another GDP for Q4; this time Switzerland will release its quarterly results (QoQ and YoY). Germany will follow with its unemployment data while the Eurozone will publish the Consumer Confidence and Services Sentiment, both for February. The US highlights will be the Durable Goods Orders for January, the Initial Jobless Claims and the Fed’s Janet Yellen speech. Japan will close the day with its National Consumer Price Index and Unemployment rate for January. Friday will see the release of the UK’s Gfk Consumer Confidence for February, Germany’s Retail Sales (Yoy and MoM), the Euro zone Consumer Price Index, the Preliminary Release of US GDP for Q4, and the country’s Pending Home Sales for January (MoM and YoY) to end with the Bank of England Governor Carney speech.
