DAILY MARKET REVIEW — 02/02/2017

DAILY MARKET REVIEW — 02/02/2017

 

US’ Central Bank didn’t provide support for the USD. Now traders are waiting for the NFP report.

 

Forex

GBP/USD

Fed’s meeting was yesterday’s main event but the US regulator disappointed investors because there were no tips about the next monetary tightening. The USD fell against this background.

UK’ manufacturing PMI provided support for British currency.

Today Theresa May will reveal Brexit plan. Also, the Bank of England will announce its meeting’s results at 12:00 (GMT). At the same time, Mark Carney will speak. Most likely, the British central bank will not change settings.

Resistance: 1.26922, 1.27280, 1.27743
Support: 1.26124, 1.25658, 1.25133

AUD/USD

The pair traded mixed. Data from the US Institute for Supply Management came out better than expected and provided support for the USD. Australia’s trade balance for December 2016 provided support for the AUD.

So now traders are waiting for tomorrow’s NFP.

Resistance: 0.76750, 0.76947, 0.77176
Support: 0.76061, 0.75771, 0.75512

 

Stocks

Ferrari NV (RACE)

Today, Ferrari will publish its quarterly report during the US session. According to experts’ expectations, earnings per share will rise to $0.58 and total revenue will go to $898.1 billion.

Resistance: 62.56, 62.91, 63.25
Support: 61.67, 61.22, 60.65

 

Commodities

Brent Oil Futures

Oil grew by 1.5% yesterday. This trend was due to production’s volumes reduction in Russia. In addition, members of the OPEC cartel signed a deal on the reduction of production volumes.

Today, the trading dynamics will depends on investors’ mood.

Resistance: 57.20, 57.50, 57.80
Support: 56.25, 55.93, 55.59

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