Daily Market Review ― 30/09/2015

Daily Market Review — 30/09/2015

British GDP, CPI in the Eurozone and Speech of the Fed Chairwoman Janet Yellen Are the Main Events of the Day

Forex 

GBP/USD

GBPUSD

Yesterday’s trading session the pair spent in a downtrend, which continues for the second consecutive week. The negative dynamics of the pair yesterday was triggered by the publication of US Consumer Confidence, which was much better than forecasts. Some influence also had data on the Net Lending to Individuals and Consumer Credits in the U.K., which also exceeded analysts’ forecasts. Today, market participants will closely follow the release of the final assessment of the U.K.’s GDP, which is scheduled for 08:30 (GMT). The same also will be published data on the Current Account for the second quarter. In addition, market participants will be watching the speech of the Fed member Dudley and later today of the Chairwoman Janet Yellen, which is scheduled for 18:00 (GMT).

Resistance: 1.5205, 1.5261, 1.5325
Support: 1.5128, 1.5090, 1.5036

EUR/USD

EURUSD

During yesterday’s trading the pair showed mixed trends, but session closed in favor of the European single currency. The dynamics of the pair was influenced by the Consumer Confidence, Economic Sentiment Index, Business Climate Indicator as well as Industrial Confidence, which turned out to be much better than expected. And with that, data on German Consumer Price Index disappointed market participants, pointing out to the problems of inflationary pressure in the leading economy of the region. Today, the dynamics of the pair can be affected by data on Retail Sales in Germany at 06:00 (GMT) and Unemployment Rate at 07:55 (GMT). Market participants also should pay attention to data on the CPI and Unemployment Rate in the euro area, which are scheduled for 09:00 (GMT). The ADP Employment Report will be published today in US at12:15 (GMT). However, the main attention of the markets will be focused on the speech of Fed Chairwoman Janet Yellen at 18:00 (GMT).

Resistance: 1.1282, 1.1329, 1.1372
Support: 1.1193, 1.1145, 1.1104

 

Stock Market

FTSE Futures

FTSE

Major European stock indexes showed a decline yesterday that was caused by the ongoing analysis of data from the economies of the Asian region. Recall that on Monday the Chinese government has reported a fall in profits of large industrial enterprises for the first eight months of the year. Some support markets got from the euro area, where data on the Industrial Confidence Index and Business Climate Indicator are at sufficiently high levels. Today, the dynamics of stock markets could be influenced by data on the U.K. GDP, the Unemployment Rate in Germany and the Eurozone, as well as the CPI in the euro area.

Resistance: 5912.61, 5983.89, 6086.66
Support: 5833.24, 5788.20, 5677.57


Commodities

Light Sweet Crude Oil Futures

CrudeOil

In the first half of yesterday’s trading session the quotes of “black gold” showed an upward trend on expectations of production cuts of raw materials in the United States. Oil prices are under pressure, because the OPEC members and other oil-producing countries have no intention to reduce production and willing to protect their market shares. This leads to a significant oversupply in the world market. In the afternoon, the oil quotations fell considerably against the publication of data on the Crude Oil Inventories in the US. According to the data, inventories rose by 4.6 million barrels last week. And at the same time, investors are expecting another report on Crude Oil Inventories today at 14:30 (GMT), this time from the US Department of Energy.

Resistance: 45.66, 46.30, 47.10
Support: 44.26, 43.66, 43.08