DAILY MARKET REVIEW — 14/03/2017

DAILY MARKET REVIEW — 14/03/2017

 

News from EU will be today’s market driver

 

Forex

EUR/GBP

The pair showed a downward trend yesterday as traders were waiting for the British Parliament’s decision on Brexit. At the same time, the reasons for the pair’s fall were purely technical factors.

Meanwhile, last night it became known that the British parliament allowed the government to start the Brexit procedure. Against this background, the British currency was under pressure. Data on Eurozone industrial production and business sentiments also impacted the market.

Resistance: 0.88064, 0.88503, 0.89070
Support: 0.87522, 0.87090, 0.86600

 

AUD/USD

The pair grew yesterday due to a weakening of the USD. On the other hand, the market participants adjusted their positions before the Fed meeting. A National Australia Bank Business Survey put some pressure on the pair as data came out worse than expected.

U.S’ Core Producer Price Index scheduled for 12:30 (GMT) will impact the markets today.

Resistance: 0.75739, 0.76083, 0.76355
Support: 0.75280, 0.74920, 0.74637

 

Stocks

Boeing (BA)

Boeing fell yesterday at the session start. The reason for this was the decline in the rating of the company. According to bank’s analysts, last year’s increase in the value of shares was unjustified. In addition, the growth of orders was not so significant in order to push the value of the shares up. Nevertheless, at the end of yesterday’s session, the stock price rose slightly, closing the day in a symbolic plus.

Resistance: 180.28, 181.69, 183.25
Support: 176.96, 175.06, 173.45

 

Commodities

GOLD

Gold showed growth yesterday after the USD’ fall. Meanwhile, by the second half of the day, the dynamics changed. The investors’ attention is now on the US’ Federal Reserve meeting and the change in monetary policy. In case of higher rates, gold will be under pressure, as it is difficult for it to compete with assets that generate interest.

Resistance: 1211.34, 1218.30, 1225.65
Support: 1195.50, 1190.00, 1181.84

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