Daily Market Review – 15/09/2016
Bank’s of England interest rate decision is the main event today
The pair showed a mixed trend yesterday. In the morning it fell, as traders are waiting for the Bank of England to ease the monetary police today. But after the USD weakened, the pair started to grow. Positive data on the UK labor market also provided support for the GBP.
Today, the Bank of England interest rate decision is scheduled for 11:00 (GMT). Analysts believe that the British regulator will leave its monetary policy unchanged.
Resistance: 1.32780, 1.33186, 1.33517
Support: 1.32331, 1.31813, 1.31389
The Swiss currency strengthened significantly yesterday against the US dollar. This was due to the total sellout of the American currency. Additionally, ZEW and Switzerland Credit Suisse data came out better than expected, which provided further support for pair.
Today’s dynamics will depend on the Swiss National Bank’s interest rate decision, scheduled for 07:30 (GMT).
Resistance: 0.97644, 0.97890, 0.98190
Support: 0.97065, 0.96852, 0.96499
Apple Inc (AAPL)
Apple grew by 3.54% ($3.82) yesterday, as pre-orders for Apple iPhone 7 are up more than 375% in the first three pre-sale days, compared to iPhone’s 6 pre-orders.
Meanwhile, the company’s shares gained a boost. A massive malfunction in the Samsung Galaxy Note 7 additionally helped Apple jump.
Resistance: 112.82, 113.85, 114.61
Support: 110.76, 109.83, 109.09
Brent Oil Futures
Data on stocks from the US Department of Energy reduced to a modest 0.56 million barrels, while expectations favored growth by 4 million barrels. Now the market expects a short term growth for Brent Oil Futures, primarily supported by the USD’s general weakening. Because of that, the pressure on oil futures forces the International Energy Agency to reduce the demand for oil in the near future. Traders are waiting for the upcoming OPEC meeting in Algeria, at the end of September.
Resistance: 46.39, 47.02, 47.97
Support: 45.70, 44.93, 44.31