DAILY MARKET REVIEW — 17/01/2017

DAILY MARKET REVIEW — 17/01/2017

 

The World Economic Forum 2017 in Davos is the main market mover

 

Forex

AUD/USD

The pair trended negatively yesterday thanks to a correction after last week’s growth. Meanwhile, the pair grew significantly this morning, as the 2017 World Economic Forum in Davos started.

Australia’s new motor vehicle sales  grew, providing key support for the Australian dollar. Further dynamics of the pair will depend on statements from FOMC Members.

Resistance: 0.75542, 0.75809, 0.76097
Support: 0.75025, 0.74620, 0.74268

(more)…

DAILY MARKET REVIEW — 16/01/2017

DAILY MARKET REVIEW — 16/01/2017

 

Traders are waiting for news from UK

 

Forex

EUR/GBP

The pair traded in narrow range during Friday’s trading. This was due to the lack of important economic statistics.

Meanwhile, the pair showed sharp growth during the morning, against the general fall of the British pound. The GBP fell because of the Hard Brexit talks. So now traders are waiting for Theresa May’s press-conference scheduled for tomorrow.

Today, trade’s dynamics will depend on BoE Governor Mark Carney’s statement scheduled for today at 18:30 (GMT).

 

Resistance: 0.88108, 0.88504, 0.88853
Support: 0.87625, 0.87229, 0.86916

(more)…

DAILY MARKET REVIEW — 10/01/2017

DAILY MARKET REVIEW — 10/01/2017

 

Traders will pay a lot of attention to US stock markets

 

Forex

USD/CAD

BrentOil

The pair spent yesterday’s trading in a fairly narrow range. The U.S. Fed labor market conditions index came out slightly worse than expected and put some pressure on the pair.

Today, the pair’s dynamics will depend on Canada’s building permits scheduled for 13:30 (GMT). Also, today at 15:00 (GMT) U.S’ JOLTs Job Openings will be published.

Resistance: 1.32540, 1.33118, 1.33567
Support: 1.31905, 1.31418, 1.30803

(more)…

DAILY MARKET REVIEW — 22/12/2016

DAILY MARKET REVIEW — 22/12/2016

 

Traders are waiting for US’ economic statistics

 

Forex

CAD/JPY

CADJPY

Yesterday, the pair recorded a slight decrease, as oil prices fell. Meanwhile, Japan’s all industries activity index came out better than expected and impacted the pair. At the same time, the last month of the year is traditionally a negative month for the Canadian dollar.

Today traders will pay attention to Canada’s consumer price index scheduled for 13:30 (GMT).

Resistance: 87.960, 88.471, 88.906
Support: 87.000, 86.488, 86.026

(more)…

DAILY MARKET REVIEW — 21/12/2016

DAILY MARKET REVIEW — 21/12/2016

 

Traders are waiting for tomorrow’s US statistic

 

Forex

USD/CAD

USDCAD

The pair fell somewhat yesterday asmost market participants chose to take profits.  Additionally, Canadian wholesale sales came out better than expected and provided further support to Canadian dollar.

Today, U.S. existing home sales will be published at 15:00 (GMT). Additionally, traders will pay attention to dynamics in the oil market.

Resistance: 1.33924, 1.34326, 1.34633
Support: 1.33526, 1.33158, 1.32743

(more)…

DAILY MARKET REVIEW — 20/12/2016

DAILY MARKET REVIEW — 20/12/2016

 

Technical factors will be today’s main market movers

 

Forex

AUD/USD

AUDUSD

The US currency dropped to start this week. However, during the day the dollar rebounded after Fed Chair Janet Yellen’s statement about the labor market.

This morning so far the Reserve Bank of Australia published it Meeting Minutes were published. Technical factors will influence the pair for the remainder of the day.

Resistance: 0,72708, 0,73121, 0,73491
Support: 0,72252, 0,71975, 0,71730

(more)…

WEEKLY MARKET REVIEW – DECEMBER 19-23 2016

WEEKLY MARKET REVIEW – DECEMBER 19-23 2016

 

Canada’s and US’ inflation data will be this week’s main events

 

Forex

USD/CAD, Daily

USDCAD

The USD was the favorite trading currency last week thanks to positive economic statistics. Fed’s meting also impacted the currency. In addition, the central bank announced plans to raise rates three times in 2017.

Meanwhile, traders also paid attention to Bank of England’ interest rate decision. It turned out that the regulator decided to leave the interest rate unchanged.

The coming week will be full of economic statistics. Bank of Japan’s meeting starts today. Canada’s and the US’ inflation data will be published later this week.
(more)…

DAILY MARKET REVIEW — 19/12/2016

DAILY MARKET REVIEW — 19/12/2016

 

The European economic statistics will be today’s market drivers

 

Forex

EUR/JPY

EURJPY

The pair grew somewhat during the first half of Friday’s trading day, as Eurozone’s economic statistics came out positively.

Eurozone’s CPI showed drop in monthly terms and grew year-over-year, matching the forecast. During the second half of the day, the pair has changed the dynamics on the background of a partial profit-taking after significant growth, which began in late October of this year.

However, today Germany’s Ifo business climate index came out better than expected, providing support for the pair.

At the same time, traders are waiting for Bank of Japan’s meeting that starts today.

Resistance: 123,321, 124,045, 125,015
Support: 122,114, 121,353, 120,712

(more)…

DAILY MARKET REVIEW — 15/12/2016

DAILY MARKET REVIEW — 15/12/2016

 

US’ economic statistics will be today’s market mover

 

Forex

EUR/USD

EURUSD

The pair grew somewhat during the first half of yesterday’s session, as traders were waiting for the US Fed meeting.

During the second half of the day the pair fell almost 170 points. This was caused thanks to a strengthening USD  after the Fed increased the interest rate from 0.5% to 0.75%. The forecasts for the key indicators – US’ GDP, unemployment rate and inflation – have come out better than expected.

Meanwhile, today’s pair dynamics will be impacted by Eurozone’s statistics and by US’ inflation data.

Resistance: 1.05245, 1.05646, 1.06025
Support: 1.04686, 1.04296, 1.04000

(more)…

DAILY MARKET REVIEW — 14/12/2016

DAILY MARKET REVIEW — 14/12/2016

 

Fed’s decision will be the USD’s main driver

 

Forex

GBP/USD

GBPUSD

The GBP improved against the USD yesterday due to the UK’s latest inflation data report. The consumer price index rose by 0.2% in November, compared to October and by 1.2% year-over-year.

At the same time,  market participants are preparing for today’s US Federal Reserve interest rate decision, which will be announced at 19:00 (GMT), followed by the press conference, scheduled for19:30 (GMT).

Resistance: 1.26982, 1.27664, 1.28568
Support: 1.26175, 1.25514, 1.24928

(more)…