DAILY MARKET REVIEW — 16/11/2016

DAILY MARKET REVIEW — 16/11/2016

 

UK labor market data will be today’s main piece of news

 

Forex

GBP/USD

GBPUSD

The pair traded mixed yesterday thanks to UK CPI data and Governor Mark Carney’s statement. Additionally, US retail sales  data came out better than expected.

Today’s dynamics will depend on UK labor market data and on a US  industrial production report scheduled for 14:15 (GMT).

Resistance: 1.25112, 1.25570, 1.26120
Support: 1.24390, 1.23780, 1.23246

EUR/USD

EURUSD

Eurozone GDP data provided some support for the pair yesterday.

Meanwhile during the second half of the day the situation changed as US economic statistics came out better than expected.

Today investors will pay attention to US economic statistics.

Resistance: 1.07604, 1.08175, 1.08684
Support: 1.06886, 1.06447, 1.06062

 

Stock Market

Cisco Systems Inc (CSCO)

Cisco

US-based Cisco will publish its quarterly report today after the session closes. Analysts expect that its earnings per share will reach $ 0.59, with total revenue at $12.65 billion.

Resistance: 31.83, 32.04, 32.24
Support: 31.62, 31.46, 31.27

 

Commodities

GOLD

Gold

Quotes of the precious metal rose yesterday after a significant drop. Last week, gold prices fell by almost 6% against the US currency.

Meanwhile, today’s trade dynamics will depend on the US economic statistics.

Resistance: 1241.24, 1251.69, 1265.38
Support: 1218.71, 1210.61, 1199.02

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