DAILY MARKET REVIEW — 28/11/2016

DAILY MARKET REVIEW — 28/11/2016

 

Technical factors will be today’s market movers

 

Forex

GBP/USD

GBPUSD

The pair showed mixed trends during yesterday’s trading. Trade’s volumes were lower than usual, as the U.S celebrated Thanksgiving last week. UK’s GDP for Q3 matched the forecasts and provided some support for the pair.

Today’s pair dynamics will depend on technical factors. Traders will also wait for tomorrow’s US GDP for Q3 2016.

Resistance: 1.25320, 1.25837, 1.26601
Support: 1.24707, 1.24147, 1.23588

USD/CAD

USDCAD

The pair rose moderately last Friday, as oil often acts as the main driver for the currencies associated with the CAD. US’ service PMI came out lower than expected and also impacted the pair.

Today, the news from the oil market will set the tone for the pair, in the absence of important economic statistics.

Resistance: 1.35340, 1.35627, 1.35883
Support: 1.34514, 1.34211, 1.33767

 

Stock markets

DAX Futures

DAX

Major European stock indexes rose slightly on Friday, thanks to consumer goods prices’ growth and the final UK GDP data. The downside was oil quotations’ drop, which prevented a further stock growth.

Italy’s constitutional reform referendum scheduled for next Sunday will impact the markets.

Resistance: 10643.80, 10708.70, 10767.00
Support: 10547.10, 10490.10 10434.50

 

Commodities

GOLD

Gold

Gold traded mixt during last Friday. The prospects for gold remain negative, due to the future Fed’s meeting.

Today, gold’s dynamics will depend on technical factors.

Resistance: 1202.88, 1220.74, 1233.24
Support: 1170.29, 1154.15, 1140.04

Leave a Reply

Your email address will not be published.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