Index S&P 500 Set Up A New Record

On Thursday, September 19, the American market finished the trading session with a small decrease. During the session the S&P 500 index established a new historical record on a level of 1729.86 points, but due to profit taking, was correcting to lower levels. Moreover, presented favourable macroeconomic statistical data could not motivate investors for further purchases.

As for statistics, it is worth to note firstly, the jump of the index of business activity of FRB of Philadelphia in September, to 22.3 points, at average expectations of an increase to 10 points, and also a 1.7% increase in sales of houses in the secondary market in August to 5.48 million despite expectations of a decrease to 5.25 million. On the labor market, the number of primary requests for unemployment benefits increased to 309 thousand, 330 thousand were predicted.

Prices of Oil continued to fall after keeping flat after the announcement of FED’s decision. The price for Brent fell to 108.69$ per barrel losing 1.66%, Light is traded on a price of 105.61$ per barrel, having lost 1.32% in one day. Gold and Silver are slightly correcting after huge growth we witnessed yesterday, Gold is traded on a level of 1362.68$ loosing 0.48% and Silver is losing 1.19% falling to 23.01$ per troy ounce.

As for the currency market, then picture is slightly different from the picture we saw yesterday. The Dollar even managed to become stronger against the British Pound, and restored all losses against the Yen. As a result, EUR/USD finished the trading day around 1.3525, retaining this level this morning, and GBP/USD is trading on a level of 1.6051.

Friday becomes, perhaps, the most boring day of the current week, as almost all interesting and important events have been seen, analysed and reacted to. Ahead, there is a large number of reports, but in general they have minor importance. The only thing that can really have an effect on the currencies, is the expected elections in Germany, which will occur this weekend. That fact that Merkel's conservatives will win doesn't raise doubts, however it is all about the ability to create a coalition.

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