DAILY MARKET REVIEW — 28/11/2016
Technical factors will be today’s market movers
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
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
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
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