Daily Market Review – 25/07/2016
US stock indexes will be impacted by today’s earnings reports
The pair fell significantly at the end of Friday’s session, thanks to better than anticipated US manufacturing data. This morning so far the pair has risen (1.0977, +0.02) as Germany’s Ifo Business Climate index surpassed expectations.
Resistance: 1.0990, 1.1015, 1.1035
Support: 1.0951, 1.0910, 1.0870
The pair displayed mixed results during Friday’s session. Although the USD strengthened, positive dynamics in the New Zealand commodity sector positively impacted the pair. Interestingly enough, a recent slew of positive economic US data may ultimately revise the timing of the next rate hike.
Today’s trading will be centered on New Zealand’s Trade Balance, scheduled for 22:45 GMT.
Resistance: 0.7014, 0.7057, 0.7118
Support: 0.6963, 0.6892, 0.6830
Apple Inc (AAPL)
Apple is scheduled to present its quarterly report tomorrow after the US markets close. Leading analysts believe its earnings per share will fall to $1.38 and total revenue will be only be $42.374. If it beats expectations its share price can potentially hit $100. Volatility is to be expected for the next two days. Traders should be aware that the US stock indexes will continue to be impacted throughout the week by quarterly earnings reports.
Resistance: 99.10, 100.00, 100.87
Support: 97.42, 96.38, 95.35
Gold fell significantly during Friday’s session, as the USD strengthened on the back of positive US economic data. Today’s trading dynamics will ultimately depend on the mood of investors.
Resistance: 1319.57, 1327.39, 1334.99
Support: 1310.51, 1299.42, 1288.77