Daily Market Review – 23/08/2016

Daily Market Review – 23/08/2016

US economic reports starting at 13:45 GMT will impact the markets




The pair grew significantly yesterday morning just after Bank of Japan Governor Haruhiko Kuroda said that BOJ may hike the rates at next month’s meeting. However, the yen recovered some losses during the day.

Today so far the pair is at 113.59, up 0.03%, thanks to a slew of findings from various Eurozone Services and Manufacturing reports. One more important publication scheduled for 14:00 GMT is the Eurozone Consumer Confidence index.

Resistance: 113.70, 113.93, 114.15
Support: 113.40, 113.21, 113.00



The British pound grew yesterday thanks to the risk appetite of investors. Today traders should pay attention to both the US Manufacturing PMI and the US New Home Sales report, scheduled for 13:45 and 14:00 GMT respectively.

Resistance: 1.3187, 1.3255, 1.3307
Support: 1.3093, 1.3033, 1.2975


Stock Market

Samsung Electronics Co


The mega electronics company plans to launch a program to sell refurbished versions of its premium smartphones next year. Samsung will refurbish high-end phones returned to the company by users who signed up for one-year upgrade programs in South Korea and the United States. The company is trying to maximize its cost efficiency and keep operating margins above 10%. Currently the stock is listed at 748.50, up 1.70%.

Resistance: 743.40, 750.60, 760.50
Support: 729.30, 720.70, 712.20





Gold continued its downward trend as Federal Reserve Vice Chairman, Stanley Fischer said that Fed is close to hitting its targets for full employment and two percent inflation. Today, vital US economic reports starting at 14:45 GMT will impact prices.

Resistance: 1340.50, 1345.80, 1350.88
Support: 1335.00, 1330.60, 1327.32

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