DAILY MARKET REVIEW — 16/11/2016
UK labor market data will be today’s main piece of news
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
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
Cisco Systems Inc (CSCO)
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
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