You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Ger30, UK100 and SP500 are CFD’s, written over the Dax30, Footsie100 and S&P500 Index futures:
European markets finished higher on a day marked by the meetings of the Central Banks of Turkey, ECB and England. Producers of raw materials and car manufacturers have benefited from the prospect of renewed talks between the US and China. On the other hand, the technology sector reacted positively to the presentation of new products by Apple. Meanwhile, the price of oil corrected today from the highs of May, after surpassing the 80 USD, due to the possible impact of Hurricane Florence on the North American production. The storm has slowed down and is now in Category 2, thus lowering the impact on barrel production. As expected, the ECB decided to keep the key interest rates unchanged and reiterated its intention to end the asset purchase program later this year. The statement said that the ECB "expects the ECB's key interest rates to remain at current levels, at least until the summer of 2019." At the press conference after the board meeting, Mario Draghi said he has decided to revise his projections for Eurozone growth downward, pointing to increased protectionism and financial market volatility as factors that may weigh on the performance of economy of the region. Mario Draghi kept inflation forecasts at 1.70% between this year and 2020, but cut the growth projections for this year from 2.10% to 2.00%. For 2019, it lowered the forecast of 1.90%, to 1.80%, maintaining only the growth projection for 2020 at 1.70%. Another meeting that caught the attention of investors was that of the Central Bank of Turkey which raised interest rates from 17.75% to 24%. Consequently, the Turkish Lira appreciated significantly against the Dollar. This was a decision that exceeded market forecasts. On the other hand, the Bank of England also decided to keep the principal interest rates at 0.75%.
The US market traded higher, although President Trump said in a tweet that there is no rush to reach an agreement with China. In the business field, Apple was gaining ground, after yesterday the reaction to the presentation of the new products have not been positive. In macroeconomic terms, during August, inflation in annual terms increased 2.70% compared to 2.80% and 2.90% in the previous month. If we exclude the most volatile goods, the consumer price index rose by 2.20% compared to the expected 2.40%.