Daily Market Review — 29/06/2016

Daily Market Review — 29/06/2016

Germany Consumer Price Index will be the today’s main event

Forex

EUR/USD

EURUSD june 28

The currency showed some signs of recovery for the first time since the Brexit. However, better than expected US data put some pressure on the pair. Q1 GDP was slightly above what analysts had predicted and the CB Consumer Confidence report impressed as Today’s trading dynamics will primarily depend on German CPI data, scheduled for 12:00 GMT. Additionally, U.S. personal spending and income data both will be published at 12:30 (GMT).

Resistance: 1,1091, 1,1140, 1,1188
Support: 1,1038, 1,0983, 1,0936

USD/JPY

USDJPY june 28

The Japanese currency retreated after growing strongly. It seems that the Brexit’s overall influence started to slowdown. Additionally, this morning, Japanese Prime Minister said a stronger yen has the potential to hurt exports. Today’s trading dynamics will be influenced by US Inflation data and Japanese industrial production, scheduled for 12:30 and 23:50 GMT respectively.

Resistance: 102,80, 103,70, 104,97
Support: 101,39, 100,00, 99,00

 

Stock Market

Volkswagen (VOW3)

Volkswagen june 28

Yesterday it was announced that Volkswagen will be hit with over $15 billion penalties for its diesel cheating scandal in the United States. Approximately $10 billion will be used to buy back cars from customers, $2.7 billion will be spent on the environment, and about $2 billion will be transferred to the Emission Purification Technology department. This payment may increase if the company delays their implementation. Currently shares are listed at 110.45 (+2.41%)

Resistance: 110,70, 112,60, 114,20
Support: 105,66, 104,50, 103,20

 

Commodities

GOLD

Gold june 28

Gold fell yesterday for the first time in three trading sessions due to profit-taking after growing significantly. Additionally, better than anticipated US GDP data pushed gold down further. Today’s trading dynamics will primarily depend on the U.S. Personal Spending report, scheduled for 12:30 GMT.

Resistance: 1332,60, 1,344,20, 1357,60
Support: 1312,80, 1299,60, 1287,00

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