DAILY MARKET REVIEW — 17/11/2016

DAILY MARKET REVIEW — 17/11/2016

 

US’ CPI is today’s main news

Forex

AUD/USD

AUDUSD

Australia’s economy poor statistics led to the pair’s fall. Among the disappointing reports was the labor costs one, which came out worse than expected. On the bright side of things, the USD is on high demand thanks to the big probability for a Fed’s rate hike in December.

In the future, pair’s dynamics will depend on the US statistic.

Resistance: 0,75105, 0,75571, 0,76104
Support: 0,74472, 0,74061, 0,73664

EUR/JPY

EURJPY

The pair showed a positive trend yesterday thanks to a higher demand. However, most market participants prefer to profit on the short term, taking advantage of the pair’s growth. This of course leads to the pair’s downfall.

Nevertheless, the prospects for the euro on the medium term aren’t too optimistic, because of fears over the Eurozone integrity, amid other worries.

Today, Eurozone’s CPI will impact the markets.

Resistance: 117,480, 118,083, 118,611
Support: 116,547, 115,995, 115,291

 

Stock Market

Dow Futures

Dow

Major stock indexes closed in a mixed at yesterday’s trading, with only NASDAQ increasing. This was due to profit-taking after a significant rally in recent days. In addition, data on industrial production in the US provided some pressure on markets.

Today, the focus of investors’ attention will be on the US economic statistics, as well as on US Federal Reserve’s meeting, scheduled for 15:00 (GMT).

Resistance: 18913,00, 19010,00, 19090,00
Support: 18754,00, 18672,00 18572,00

 

Commodities

Brent Oil Futures

BrentOil

Oil traded mixed yesterday.

The US Department of Energy published its report on oil stocks. According to the data revealed, the stocks grew by 5.27 million barrels, against analysts’ expectations that were favoring a growth of 1.27 million barrels.

At the moment, traders are waiting for the OPEC meeting scheduled on November 30.

Resistance: 47,50, 48,42, 49,24
Support: 46,24, 45,40, 44,35

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