Market news for the 31th of January.

Trade this news Carlos Fuenmayor Economist
31 de enero de 2017

In today’s Forex session, although no press conference is schedule for the time being, the next FOMC minutes is soon arriving, traders should be advised that we could see the rates hiked up to the remaining 0.75%.  In Europe, yesterday data was released about the current state of the Union, the GDP grew by 0.5% in just Q3 of 2016, this figure being 0.4% higher than what analysts expected, the unemployment rate in December 2016 came in 9.6%, the lowest it has been in 7 years and January´s inflation got to 1.8%. Also on Europe, the Pound fell under selling pressure and dropped, as of the moment of writing this article it’s currently trading at 1.2415.

In Japan, good news for the Yen, it started gaining since the Bank of Japan had their meeting and left their monetary policies untouched as it was expected, and is currently trading at 114.29, but it wasn’t all good new since the Nikkei 225 fell 1.7% at the close of the session. It must be said the Asian market sentiment in general was on the downside with the occurrences from the Trump administration with 7 muslin countries banned to enter the US.

On commodities, gold is having gains in the market and is currently trading at $1200 per ounce, crude oil on the other side is giving disappointing numbers and Brent Crude is currently trading at 55.96 per barrel, Brent Premium is currently trading at $2.47 and West Texas Intermediate is currently trading at $53.10 per barrel.