New week started positively on US dollar correction and corporate reportsOn Friday, European markets moved to consolidation- investors took profits after a fairly successful week of trading. Corporate reporting season in Europe will continue this week. The weakness of the single European currency is still clearly seen on FOREX
US dollar gain continues. US dollar index at 8 months highYesterday, European markets continued to gain, led by regional financial sector amid ECB's commitment to continue stimulus policies. The ECB left its key rate unchanged, the deposit rate was kept at - 0.4%, according to expectations.
ECB meeting result is a main news driver for todayYesterday, the European markets have gained and closed with a slight plus on background of mixed corporate reporting data, and a good overall market sentiment caused by the positive oil market, Today in the center of the attention is the ECB meeting.
US beige Book, oil inventories data and last presidential debate are markets focus todayYesterday, the European markets were playing back the losses of the previous days and managed to update the highs of the week. Commodity metals and oil markets gains based on local US dollar weakness brought mining and energy sectors into growth leaders.
US inflation data is expected by the marketsYesterday, European markets declined amid falling commodity markets and in particular of the oil. However, the market continues to present some uncertainty intensified after the speech of Yellen on Friday
The week starts negatively as markets under pressureOn Friday, European exchanges gained with leading banking sector. In our view, there was a kind of profit fixing. Meanwhile, the trade balance of the euro area decreased to 18 bn. Euros. The figures were better than expected, but still it is a decline from 25.3 billion.
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