Daily Market Review — 21/06/2016

Daily Market Review — 21/06/2016

ECB and Fed speeches will be today’s highlights

Forex

AUD/USD

AUDUSD

The pair rose slightly yesterday as the US dollar declined. Today at 14:00 GMT investors should focus on part one of US Federal Reserve Chairwoman Janet Yellen’s testimony. Meanwhile, this morning the Reserve Bank of Australia published its Meeting Minutes. It was noted that as inflation returns to the given target level the interest rates were maintained, which provided some support to the Australian dollar.

Resistance: 0.7501, 0.7568, 0.7631
Support: 0.7421, 0.7365, 0.7296

EUR/JPY

EURJPY

The pair opened yesterday’s trading session with a big price gap in the euro’s favor, facilitated primarily as chances of a Brexit further diminished. Meanwhile, uncertainty about Brexit still persists, which is why the yen is still being used as a safe asset. However, the monthly Bundesbank report was published yesterday and significantly impacted the market. Today the Eurozone and Germany ZEW economic sentiments, both of which are scheduled for 9:00 GMT, will impact the market. Additionally, ECB President Mario Draghi’s statement will come at 13:00 GMT.

Resistance: 118.65, 119.47, 120.55
Support: 117.30, 116.45, 115.80

 

Stock Market

Apple (AAPL)

Apple

Intellectual property regulators in Beijing are forbidding Apple to sell models of its iPhone 6 and 6 Plus in the city, citing strong similarity to an existing Chinese phone. This is yet another key foreign market setback for the innovative giant. It is additionally worth noting that Apple’s quarterly revenue declined for the first time in 13 years primarily because of a sales drop-off in the Chinese market, causing approximately a three dollar per share decline. Currently, Apple is listed at 95.10 per share, down 0.24%.

Resistance: 96.66, 98.28, 100.14
Support: 94.50, 92.49, 89.91

 

Commodities

GOLD

Gold

Prices fell during yesterday’s trading session as a Brexit seems less likely. According to the latest pool more Britons prefer to stay in the EU rather than exit. Today, the dynamics of trade, will depend on the Brexit of course and Janet Yellen’s testimony, scheduled for 14:00 GMT.

Resistance: 1294.21, 1302.40, 1314.69
Support: 1276.35, 1265.74, 1256.24

Leave a Reply

Your email address will not be published. Required fields are marked *