Daily Market Review — 26/04/2016

Daily Market Review — 26/04/2016

Apple and Twitter are scheduled to report their earnings after the market closes today. Volatility is expected.

Forex

NZD/USD

NZDUSD

Yesterday, the pair showed mixed results. The New Zealand dollar rose slightly against the U.S. dollar during the first half of the trading day, following the dynamics of the commodity markets. However, the NZD was unable to hold its position. Interestingly enough, worse than expected data regarding the U.S. new home sales, proved not to be so detrimental to the USD. Today, the currency pair should be affected by important data coming out of the United States. First off is the durable goods orders scheduled for 12:30 GMT, followed by the Markit Composite PMI will be published at 13:45 GMT and the highly important CB Consumer Confidence report at 14:00 GMT. Lastly, the Fed kicks off its two day meeting at 18:00 GMT.

Resistance: 0.6900, 0.6950, 0.6995
Support: 0.6840, 0.6800, 0.6760

GBP/USD

GBPUSD

Yesterday, the GBP strengthened significantly against the USD after U.S. President, Barack Obama urged Britain to remain in the EU. According to recent studies, the majority of Britons are against Brexit, citing economic consequences as the number one fear. The pair received additional support from a slightly better than anticipated U.K. CBI Industrial Trends Orders report. Today’s trading dynamics will depend entirely on US economic data scheduled for later on during the day. The same holds true for the EUR/USD.

Resistance: 1.4518, 1.4567, 1.4615
Support: 1.4415, 1.4320, 1.4230

 

Stock Market

Apple (AAPL)

AAPL

Today after the U.S. markets close Apple will publish its highly anticipated quarterly report. According many leading experts, its profit per share should fall to approximately $2.00 compared to $3.28 for the previous period. Overall revenue should decline to $52.05 billion compared to last quarter’s $75.87 billion. If the forecast meets or exceeds expectations, share prices could easily reach the $110 range. Leading up to the report stock prices should be quite volatile. The same should apply to Twitter, which is also scheduled to announce their earnings after today’s trading session concludes.

Resistance: 107.00, 108.20, 110.00
Support: 104.50, 102.50, 100.50

 

Commodities

GOLD

Gold

Gold prices rose slightly yesterday after suffering a downtrend in the previous two sessions. Today at 18:00 GMT the Fed will commence its two day meeting. However, when it’s all said and done most experts believe that the Fed will leave everything unchanged. It is expected that tougher statements could lead to the widespread strengthening of the USD across the board and the fall of gold prices respectively. Today’s trading dynamic will almost definitely be impacted by U.S. data scheduled for later on today.

Resistance: 1242.08, 1247.25, 1252.67
Support: 1232.60, 1227.25, 1221.85

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