14, July 2017

The focus is on a large block of US statistic data

The end of the current trading week turned out to be positive for global markets. Over the past days, equity assets have been in demand. The global MSCI index tracking the dynamics of world markets yesterday updated historical highs. American stock indexes ended the day close to historical marks. Positive came to the markets after the speech of the chief of Fed before the Senate. Because of the speech, the markets concluded that the rate hike in the US will be moderate in the face of lower inflationary expectations. In addition to positive macroeconomic expectations, the oil market in the second half of the week moved to gains, together with the metal markets amid the weakening of the US dollar. Now the markets will focus on the meeting of the next global regulator, the European Bank, that will be held on July 20. In the focus today - a large block of statistics on the American economy. Investors will focus on data on consumer inflation, retail sales and industrial production.

The oil market finally moved to recovery on Thursday, having consolidated bellow the area of ​​our target level - 49 dollars. The IEA's reporting was ambiguous. The agency confirmed the fears that the OPEC agreement is fulfilled at best by 70%. However, investors drew positive from the Chinese reporting. The growth of imports in China in June amounted to 8.5 million barrels. In addition to the positive from China, the news came that Saudi Arabia plans to reduce oil exports to a number of Asian countries and the United States.