Daily Market Review — 27/09/2016
US Fed’s Stanley Fischer statement will drive the markets today
The pair showed a moderate decrease yesterday, as yen was used as safe asset. Traders were waiting for the first 2016 US Presidential Debate. Data on US new home sales came out better than expected.
This morning the pair rose, after surveys showed Clinton edged in front of Trump.
Today the US Services PMI is scheduled for 13:45 (GMT), followed by the CB Consumer Confidence report at 14:00 (GMT). Both events should impact the pair. Additionally, Fed Vice Chair, Stanley Fischer will speak at 15:15. (GMT
Resistance: 100.987, 101.415, 101.825
Support: 100.257, 99.922, 99.523
The CAD fell against its US counterpart yesterday, as Canadian Consumer Inflation and Retail Sales came out worse than expected.
However, the Canadian currency bounced back today, thanks to higher oil prices. The pair’s further dynamics will depend on US statistics, as well as the oil direction.
Resistance: 1.32164, 1.32728, 1.33487
Support: 1.31337, 1.30627, 1.29989
Major stock indexes in Europe closed yesterday’s trading in the red, as shares in the banking sector fell. So far today oil prices have continued to grow causing European stock indexes including the DAX to grow significantly.
News from the International Energy Forum in Algeria may impact the market significantly today.
Resistance: 10458.70, 10490.60, 10525.00
Support: 10392.40, 10362.20, 10335.30
Gold rose slightly yesterday, helped by a weakening US currency. Gold is trading in a narrow range for the third consecutive session. Investors are waiting for the Fed’s signals about a possible rate hike.
US statistics and the Fed’s Stanley Fischer statement will be market-movers today.
Resistance: 1339.40, 1343.95, 1349.16
Support: 1330.04, 1324.59, 1320.12