This week we saw limited volatility in the markets as the holiday season is in full swing. On the other hand, investors closely monitored the situation in the crude oil market, so it is worth paying attention to the next DOE report which will be published next week. Euro experienced low volatility recently, however considerable attention should be paid to the ECB's decision. In particular, there has been a recent change in the inflation target in the euro area. In terms of the EURUSD pair, it is worth paying attention to the release of flash PMI indices from the euro zone and the US.
WTI crude oil
Concerns about the supply of oil caused by the stalemate in the OPEC + group led to price drops. Additionally,uncertainties regarding US demand emerged following the recent increase in gasoline and distillate inventories. Therefore, this week investors' attention will focus on Wednesday, when the DOE report is released. The data may show whether US demand during the summer season is actually not as strong as previously speculated.
DE30
The change in the inflation target by the European Central Bank did not have a significant impact on the market, but the ECB now has time for additional communication. Nevertheless, Lagarde recently admitted that the inflation target is not a ceiling and that it may overshoot its target at some point. This gives a chance that the central bank will extend the QE program, which is crucial from the perspective of European indices. The DE30 remains near its all-time high, similar to US indices. The ECB's decision will be published on Thursday.
EURUSD
The ECB conference may be equally important for the EURUSD pair. On the other hand, on Friday, investors will be served with flash PMI indices from the euro zone and the US. Expectations point to further improvement in the service sector, with limited growth in the industrial sector. In the US, the service PMI is expected to jump back towards 70 points, which is of course an absolute record. The EURUSD pair remains near 1.1800 level, and the volatility in recent weeks has been limited - price movements do not exceed 100 pips.
ملخص اليوم: بيانات أمريكية ضعيفة تُؤدي إلى انخفاض الأسواق، والمعادن الثمينة تتعرض لضغوط مجدداً!
الولايات المتحدة: ارتفاع وول ستريت رغم ضعف مبيعات التجزئة
عاجل: مبيعات التجزئة الأمريكية أقل من التوقعات
مؤشر US2000 يقترب من مستويات قياسية 🗽 ماذا تُظهر بيانات NFIB؟
