DAILY MARKET REVIEW — 23/01/2017

Donald Trump & Co will impact the markets the most

Forex

EUR/USD

 

The pair showed mixed trend last Friday. During the first half of the day the pair was down against the strengthening of the American currency. Meanwhile, the main event last Friday was the Donald Trump’s inauguration.

Today, trading dynamics will depend on ECB President Mario Draghi’s statement, scheduled for 23:30 (GMT).

Resistance: 1.07573, 1.07961, 1.08519
Support: 1.07130, 1.06736, 1.06263

USD/JPY

Fed Chair Janet Yellen’s statement provided some support for US currency. She said that stressed that the US regulator is set to three rate hikes this year.

Meanwhile, after the inauguration speech of US President Donald Trump situation changed. Today, the dynamics of trade will depend on investors’ mood.

 

Resistance: 114.000, 114.510, 115.175
Support: 113.155, 112.566, 111.986

 

Stock Markets

Alcoa Corp (AA)

This season in the US quarterly reporting is somewhat different from the previous ones. Traditionally, American aluminum giant company Alcoa is first to publish its report.

At this time, Alcoa is going to publish its report tomorrow.

According to analysts’ expectations, earnings per share should reach $0.19. Total revenues − $2.54 billion dollars. In case of excess of the actual values of forecast, the share price could rise to the level of $37.00 per unit.

Resistance: 36.50, 37.80, 39.50
Support: 34.80, 33.90, 33.20

 

Commodities

Brent Oil Futures

Oil increased by about 2% last Friday. This trend was due to expectations that the largest oil-producing countries will adhere to limit production volumes arrangements. The last weekend in Vienna, met the conditions of the implementation committee on the deal to limit production. Recall December 10 at the OPEC headquarters agreement was signed. in which OPEC and other oil-producing countries undertake to reduce production volumes by an average of 1.8 million barrels. At the moment the agreement is carried out by about 80%, which is positive for the global oil market.

The dynamics of the American currency will impact oil today. Meanwhile, data the number of existing drilling rigs increased by 29 last week, this will put some pressure on oil market.

Resistance: 56.18, 56.99, 57.63
Support: 55.00, 54.31, 53.60

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