DAILY MARKET REVIEW — 06/12/2016

DAILY MARKET REVIEW — 06/12/2016

 

The USD’s correction continues

 

Forex

EUR/USD

EURUSD

The pair experienced a mixed trading yesterday. In the morning, it started to fell after Italy’s referendum results were published and the subsequent resignation of the Prime Minister. However, the president did not accept the government to leave, at least until the Parliament accepts the budget for next year.

This piece of news allowed for the euro to win back everything it lost. Meanwhile, U.S’ ISM non-manufacturing business activity came out better than expected.

Today, the dynamics of the pair will depend on the US’ trade balance and factory orders scheduled for 13:30 (GMT) and 15:00 (GMT) respectively.

Resistance: 1.07948, 1.08487, 1.09227
Support: 1.07347, 1.06900, 1.06565

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DAILY MARKET REVIEW — 05/12/2016

DAILY MARKET REVIEW — 05/12/2016

 

Today’s political factors will be the main market movers

Forex

EUR/JPY

EURJPY

The pair fell during Friday’s session due to technical factors.

Meanwhile, Italy’s referendum results were published. Voters rejected the proposal for the constitutional reform proposed by the Prime Minister Renzi, leading to his resignation. This move put additional pressure for EUR.

In the future, pair’s dynamics will depend on Eurozone’s retail sales.

Resistance: 121,87, 122,70, 123,39
Support: 120,84, 120,14, 118,96

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DAILY MARKET REVIEW — 30/11/2016

DAILY MARKET REVIEW — 30/11/2016

Personal US income and spending was today’s main event

Forex

USD/JPY

USDJPY nov 30

The pair grew yesterday, with US GDP Q3 data coming out better than expected. Japanese industrial production data additionally came out positive.

So far today the US dollar remained moderately higher against the other major currencies. U.S. payroll processing firm ADP said non-farm private employment rose by 216,000 in November, above forecasts for an increase of 165,000.

Separately, the U.S. Commerce Department said that personal spending increased by 0.3% in October, below expectations for a 0.5% gain. Meanwhile, personal income rose by 0.6% in October, compared to an expectation of only 0.4%.

Resistance: 113,769, 114,598, 115,916
Support: 111,323, 109,740, 108,548

AUD/JPY

AUDJPY nov 30

The pair grew yesterday due to positive dynamics in the commodity markets despite a solid Japanese Manufacturing PMI and worse than expected Australian Housing Credit data helped.

Today’s dynamics will be impacted by the Australian AIG Manufacturing Index, scheduled for 22:30 GMT.

Resistance: 84,606, 85,350, 85,981
Support: 83,486, 82,639, 81,909

 

Stock Markets

DAX Futures

DAX nov 30

Major European stock indexes rose slightly yesterday as the European banking sector grew. Nevertheless, investors are apprehensive about today’s OPEC meeting in Vienna.

Resistance: 10708,70, 10767,00, 10814,70
Support: 10598,80, 10547,10, 10490,10

 

Commodities

GOLD

Gold nov 30

Gold was fell yesterday as the US dollar strengthened after better than anticipated US GDP data. Today’s dynamics will depend on US economic statistics and on the OPEC decision.

Resistance: 1202,88, 1220,74, 1233,24
Support: 1170,29, 1154,15, 1140,04

 

DAILY MARKET REVIEW — 29/11/2016

DAILY MARKET REVIEW — 29/11/2016

 

US economic statistic will be the main market mover today

 

Forex

AUD/USD

AUDUSD

The USD fell in rapport to the commodity currencies during yesterday’ trading session. This was due to profit-taking. Meanwhile, investors hope that under the new US leadership’s policies, the USD will improve.

However, today’s U.S GDP data and U.S CB Consumer Confidence will impact the markets. Also later today Fed’s William Dudley and Jerome Powell will hold speeches.

Resistance: 0.75105, 0.75571, 0.76104
Support: 0.74472, 0.74061, 0.73664

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DAILY MARKET REVIEW — 28/11/2016

DAILY MARKET REVIEW — 28/11/2016

 

Technical factors will be today’s market movers

 

Forex

GBP/USD

GBPUSD

The pair showed mixed trends during yesterday’s trading. Trade’s volumes were lower than usual, as the U.S celebrated Thanksgiving last week. UK’s GDP for Q3 matched the forecasts and provided some support for the pair.

Today’s pair dynamics will depend on technical factors. Traders will also wait for tomorrow’s US GDP for Q3 2016.

Resistance: 1.25320, 1.25837, 1.26601
Support: 1.24707, 1.24147, 1.23588

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DAILY MARKET REVIEW — 24/11/2016

DAILY MARKET REVIEW — 24/11/2016

 

The USD’s rally will impact markets today

 

Forex

EUR/USD

EURUSD

The pair fell yesterday thanks to strong US economic data. US durable goods orders and jobless claims came out better than expected. Furthermore, the FOMC’s Meeting Minutes put additional pressure on the pair.

Today, the US celebrates Thanksgiving, so trading volumes will be lower than usual.

Resistance: 1.05838, 1.06583, 1.07462
Support: 1.05268, 1.05000, 1.04610

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DAILY MARKET REVIEW — 23/11/2016

DAILY MARKET REVIEW — 23/11/2016

 

US economic statistic will be the main news today

 

Forex

GBP/USD

GBPUSD

The British currency fell against the US dollar yesterday due to technical factors. U.K. public sector net borrowings decreased last month, which may lead to negative consequences for the UK economy.

Today, UK’s Ministry of Finance report scheduled for 12:30 (GMT) will impact the market. Later today at 13:30 (GMT) and 15:00 (GMT) respectively, US orders for durable goods and new home sales will be published.

Resistance: 1,24346, 1,25110, 1,25820
Support: 1,23545, 1,22987, 1,22483

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DAILY MARKET REVIEW — 21/11/2016

DAILY MARKET REVIEW — 21/11/2016

 

Political events will drive the financial markets today

 

Forex

EUR/USD

EURUSD

The pair continues its downtrend today. Germany’s PPI came out better than expected, which had an impact on the markets. But Eurozone’s trade balance provided some support for the EUR. However, Fed’s meeting minutes contributed to the pair’s subsequent fall. At the end of the day, Trump’s political intentions provided some support for the USD.

At the same time, the EUR is under pressure due to political events in Europe, such as the elections in France and the Italian referendum.

Resistance: 1.07072, 1.07852, 1.08632
Support: 1.05686, 1.05188, 1.04609

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DAILY MARKET REVIEW — 17/11/2016

DAILY MARKET REVIEW — 17/11/2016

 

US’ CPI is today’s main news

Forex

AUD/USD

AUDUSD

Australia’s economy poor statistics led to the pair’s fall. Among the disappointing reports was the labor costs one, which came out worse than expected. On the bright side of things, the USD is on high demand thanks to the big probability for a Fed’s rate hike in December.

In the future, pair’s dynamics will depend on the US statistic.

Resistance: 0,75105, 0,75571, 0,76104
Support: 0,74472, 0,74061, 0,73664

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DAILY MARKET REVIEW — 16/11/2016

DAILY MARKET REVIEW — 16/11/2016

 

UK labor market data will be today’s main piece of news

 

Forex

GBP/USD

GBPUSD

The pair traded mixed yesterday thanks to UK CPI data and Governor Mark Carney’s statement. Additionally, US retail sales  data came out better than expected.

Today’s dynamics will depend on UK labor market data and on a US  industrial production report scheduled for 14:15 (GMT).

Resistance: 1.25112, 1.25570, 1.26120
Support: 1.24390, 1.23780, 1.23246

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