Today we await the crucial meeting that has been affecting the assets from the start of the week. Today all markets will be anticipating the key monetary stimulus as the European Central Bank performs its duties. The primary function of this meeting is for the European Central Bank to communicate with investors regarding its monetary policies. This generally does cover in great detail all the factors that have affected all the recent interest rate and policy decisions. This will also outline the overall economic inflation and outlook for 2015. The future monetary policy is also discussed and presented in this meeting today.
Wednesday did see some highs in the New York stock market, even though they were modest. This market turned around due to a brief news spill that the ECB is considering a ‘bond buying’ program to assist in reviving the Eurozone economy. The Dow Jones, Nasdeq and S & P 500 all enjoyed increases however minimal.
To everyone’s surprise, Crude oil also saw a rise yesterday. In light of the European Central Banks decision to outline and implement a more aggressive incentive package to give the European economy the boost it so desperately needs. In turn, the demand for Brent Crude was given a positive helping hand. This may be short-lived, as I predict the Brent crude will decrease by Monday close of trade. But this will at the very least look at a plan at re-building the popularity of crude oil.
Lately, Gold has been riding high on the back of the negative market news. The political turmoil surrounding the Euro in Greece, the unstable and disorderly Swiss National Bank, the dilemmas in Ukraine. Investors have been looking for the safe haven of Gold, now that there seems to be some hope that lies in the outcome of today’s major news event. Seems that Gold has lost some of its momentum, the question is will this continue. If the ECB does present that risk, assets will surge higher then sadly the demand for safe haven assets, Gold being one of them, will see its short fall and continue to decline.
The currency market continued to see the fall of most majors against the strengthening USD. I feel strongly the EUR will gain some momentum by the close of markets on Friday. I imagine you will be pleasantly surprised on what Monday has to hold.
Today’s Trading Tip:
I suggest that we continue to select Put on all the majors that are competing against the USD for the day, I will pick a CALL for the USD. Try your luck on the US Stocks today, they will continue their positive rise throughout today.
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