Daily Market Review — 04/04/2016

Daily Market Review — 04/04/2016

Eurozone unemployment rate and U.S. factory orders will be the main events today

Forex

EUR/USD

EURUSD

During Friday’s trading day, the European currency showed significant drop against the US Dollar. Such dynamics was caused by the publication of positive statistics on the US labor market. Thus, NFP figure appeared 215,000 against expectations of experts at the level of 205,000. Meanwhile, the unemployment rate unexpectedly rose to a level of 5%. Also, the average wage increased by 0.3% against the average forecast for its growth by 0.2%. Today, the dynamics of the pair may be affected by data on Eurozone unemployment rate at 09:00 (GMT). Also at 14:00 (GMT) will be represented by data on U.S. factory orders.

Resistance: 1.1438, 1.1539, 1.1614
Support: 1.1342, 1.1296, 1.1215

AUD/USD

AUDUSD

At Friday’s session, the pair showed mixed dynamics, but closed with Australia Dollar’s growth. At the beginning of the day, support was provided by data on China manufacturing PMI, which was slightly better than the average forecast of experts. Nevertheless, mixed statistics on the US labor market put some pressure on the pair. Meanwhile, the pair remains under pressure due to the fall in prices on commodity markets. Market participants will prepare for Australia interest rate decision, which will be known tomorrow at 04:30 (GMT).

Resistance: 0.7678, 0.7700, 0.7721
Support: 0.7613, 0.7583, 0.7549

 

Stock Market

Dow Futures

Dow

During first half of Friday’s trading day, major US stock indices suffered losses, as investors were preparing for the report on NFP, which was better than analysts’ expectations. In addition, the index of consumer sentiment as well as the U.S. ISM manufacturing PMI, which was slightly better than the average forecast of experts, provided some support. Today, the dynamics of trade will depend on U.S. Factory Orders which will be published at 14:00 (GMT). Also, investors will pay a lot attention to the oil prices’ dynamics.

Resistance: 17723.58, 17770.26, 17824.35
Support: 17647.51, 17543.32, 17463.93

 

Commodities

GOLD

Gold

At Friday’s session, gold lost about $30 because of the strengthening of the US Dollar. This was due to mixed statistics on the labor market. Thus, according to the presented data, the number of new jobs amounted to 215,000, average earnings rose by 0.3% and the unemployment rate rose to 5%. In addition, commodity markets’ negative dynamics put some pressure on gold. Today, there will be important publication of U.S. factory orders (14:00 (GMT)).

Resistance: 1223.47, 1229.22, 1235.20
Support: 1215.91, 1208.80, 1201.59

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