{"id":88190,"date":"2016-04-15T08:04:58","date_gmt":"2016-04-15T12:04:58","guid":{"rendered":"http:\/\/countingpips.com\/?p=88190"},"modified":"2016-04-15T08:04:58","modified_gmt":"2016-04-15T12:04:58","slug":"g20-meeting-in-focus","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/04\/g20-meeting-in-focus\/","title":{"rendered":"G20 meeting in focus"},"content":{"rendered":"
April 15, 2016<\/div>
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By IFCMarkets<\/a><\/p>\n

Today the IMF and World Bank leaders will meet with the ministers of finance from G20 member countries. Markets look steady ahead of the meeting results and following the bullish week.<\/p>\n

US stocks<\/b> little changed on Thursday after their two-day rally. US dollar index, a measure of a greenback\u2019s value against a basket of six major currencies, rose 0.2%. The Dow Jones industrial average added 0.1% to 17,926.43, Nasdaq composite<\/a> slid down 0.03% to 4,945.89. S&P500 rose 0.02% to 2,082.78 \u2013 its highest since late December 2015 (see S&p 500 live chart<\/a>). Bank of America shares added 2.8% driving S&P 500 index up on the news the decline in the bank\u2019s profits was in line with expectations. Wells Fargo stocks rose 0.1% on quarterly statement. This year\u2019s bottom performer \u2013 financial sector \u2013 edged up 0.4% on Thursday closing the 5th straight day in the black. Today at 15:15 CET the industrial production for March will be released. The tentative outlook is positive. At 18:30 CET the Fed\u2019s Evans speech is scheduled. At 19:00 CET the Baker Hughes US oil rig count will come out, the current count is 354 units.<\/p>\n

European stocks<\/b> opened with a negative bias on Friday due to the poor quarterly sales of French car parts maker Faurecia in China. As a result, the company\u2019s stocks fell 5% dragging the STOXX Europe 600 Automobiles and Parts index 1.1% down. On the other hand, Carrefour stocks advanced 3.9% today on reports its sales rose in key European markets. The FTSEurofirst index lost 0.28% today but is still on track to close this week 3.4% higher \u2013 its record weekly gain since mid-February. The index added 0.3% on Thursday and 2.6% on Wednesday. Analysts believe the overall sentiment remains positive in the market. EURUSD pair was traded at $1.1260 a euro. In Europe the seasonally adjusted trade balance data for February fell short of expectations.<\/p>\n

Asian stocks<\/b> were in the red today. Nikkei slipped today on profit taking: the Japan\u2019s index lost 0.4% to 16,848.03 but is on track to end the week 6.5% higher. The broad-market TOPIX index lost 0.7% to 1,361.40 to end this week 5.7% higher. The USDJPY<\/a> pair stood little changed on Friday awaiting the G20 finance ministers meeting results. Today in the morning the China\u2019s Q1 GDP growth (YoY) was released being in line with the forecasts at 6.7%. This relieved the investors\u2019 fears of \u201chard landing\u201d and gave hope the slowdown may be bottoming out. Nevertheless, the Chinese stocks fell on profit taking after this week\u2019s rally. The today\u2019s data on retail sales and industrial production in March exceeded expectations.<\/p>\n

Oil futures prices<\/b> retreated on Thursday after mixed report from API and doubts the deal among major oil producers to cap oil production may be not signed. In fact, the deal will do little to improve the supply-demand imbalance but will substantially support the investors sentiment. Brent crude oil prices <\/a>lost 0.7% to $43.86 a barrel while WTI futures fell the same 0.7% to $41.45 a barrel late on Thursday.<\/p>

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Spot gold<\/b> added 0.3% today to $1,230.30 an ounce after a 1.3% fall in the previous day and is to end this week 1% lower. Gold has finally steadied after a rally on dovish Fed comments as the non-yielding precious metal is dependent on interest rates.<\/p>\n

Market Analysis provided by IFCMarkets<\/a><\/p>\n

Note:
\nThis overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or \u0430 recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.<\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets Today the IMF and World Bank leaders will meet with the ministers of finance from G20 member countries. Markets look steady ahead of the meeting results and following the bullish week. US stocks little changed on Thursday after their two-day rally. US dollar index, a measure of a greenback\u2019s value against a basket […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-88190","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/88190","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=88190"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/88190\/revisions"}],"predecessor-version":[{"id":88193,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/88190\/revisions\/88193"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=88190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=88190"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=88190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}