Daily Market Review — 26/10/2016

Daily Market Review — 26/10/2016

 

US oil stocks data will drive the markets today

 

Forex

AUD/USD

AUDUSD

Yesterday the pair showed strong growth as the USD rose impressively. Meanwhile, earlier this morning the Australian CPI was published, exceeding expectations.

The pair’s further dynamics will be impacted by U.S. Services PMI scheduled for 13:45 GMT, followed by US New Home Sales at 14:00 GMT.

Resistance: 0.77029, 0.77242, 0.77460
Support: 0.76729, 0.76486, 0.76261

GBP/USD

GBPUSD

The British currency fell against the US dollar once again as the UK finance minister said he sees no obstacles to further expand the QE program. However, it ultimately recovered almost all of its lost positions as Bank of England head Mark Carney emphatically stated that he sees no reason to change the current monetary policy settings. The pair’s dynamics will depend on US economic statistics.

Resistance: 1.22421, 1.22729,1.22975
Support: 1.21853, 1.21545, 1.21354

Stock Market

Coca-Cola Company

Coca-Cola

Today Coca-Cola Company will publish its quarterly report before the market opens. According to leading analysts its earnings per share should reach $0.48, with total revenue falling to 10.45 billion dollars.

Resistance: 42.74, 42.87, 43.00
Support: 42.42, 42.28, 42.18

 

Commodities

Brent Oil Futures

BrentOil

Oil fell yesterday as the American Petroleum Institute published data on oil stocks. Thus, according to data stocks rose by 4.5 million barrels compared to the average forecasts of growth of 1.8 million.

Today, investors will closely be on the lookout for a similar report from the US Department of Energy, scheduled for 14:30 (GMT).

Resistance: 51.60, 52.21, 52.76
Support: 50.90, 50.34, 49.82

Leave a Reply

Your email address will not be published.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