On Tuesday world stock indices continued their growth after a little hesitation early in the week. The Dow Jones rose by 0.19% (20090.29), S&P 500 added 0.02% (2293.08), the Nasdaq rose 0.19% (5674.22). European stock markets were not far from American. The German DAX rose 0.34% (11549.44), British FTSE 100 gained 0.20% (7186.22), and only the index of the Paris stock exchange CAC 40 fell 0.49% (4754.47).
Today it is expected the number of publications of the macroeconomic data and the speeches of the monetary authorities that could affect investors ' decisions during the trading sessions.
At 00:35 MSK Weekly crude oil inventories according to the American petroleum Institute.
At 16:00 MSK the speech of the member of the monetary policy Committee of the United Cunliffe.
At 16:15 MSK the Volume of construction of new homes Canada for January.
At 18:30 MSK crude oil Inventories USA.
At 23:00 MSK the Decision of the Reserve Bank of New Zealand interest rate.
At 23:00 MSK the Report on monetary policy RBNZ.
In Europe the main drivers of growth are the results of corporate reporting, although constraints are much more. Due to the decline in oil prices lose the capitalization of European oil companies decreases. BP declined by 4.08%, their revenue of it also came in below forecasts for the quarter. The similar situation is with the Scandinavian Statoil, who loses 3,07%.
Oon the background of general growth at Tuesday the only outsider was the French CAC 40. The country is sinking more and more in the scandals surrounding presidential candidates. The candidate from the centrist Emmanuel Macron is forced to make excuses for extramarital affairs. Conservative Francois Fillon is trying to save his reputation tarnished by reports of misuse of taxpayers ' money to pay his wife. Apparently, France will continue to collapse until mid-spring when the first round of voting will host on April 23. This situation can weaken the European currency.
In the New World things are going much better. American indexes on Tuesday almost has updated their highs, but remained to trade in a consolidative range. Positive news were brought by the report released by the Commerce Department about the foreign trade balance of the country, which reported the decline in imports. It corresponds to the course of the new administration of White House . This can be considered as continuing of growing trend and the increasing likelihood of continued growth of the stock market in the near future.
Patrick Harker, Chairman of the Philadelphia Fed said he expects the next increase in the key rate in March. On this news the pair EUR/USD moved down by 0.45%.
A serious decline was noticed in oil prices yesterday. The decline comes amid strengthening of the dollar, which gives strength to negative factors, as growth in US inventories and an increase in activity of manufacturers of shale oil. This morning published data from the American Petroleum Institute about inventories, which showed record growth for the year 14,230 M. Today is also expected data from EIA. Oil is already trading at the lower border of the lateral band, formed two months ago.
Sincerely, Global FX chief analyst Sergey Melnikov.