Daily Market Review — 29/09/2016

Daily Market Review — 29/09/2016

German CPI is today’s main event

Forex

EUR/JPY

EURJPY

The pair trended upward yesterday after the Government of Japan’s official statement, indicating that stimulus measures may be expanded if necessary. ECB President, Mario Draghi’s statement additionally impacted the pair. Meanwhile, data on Japan retail sales showed sharp decline in August and put some pressure on the pair.

Today, traders will pay a lot of attention to German CPI and to Japanese CPI.

Resistance: 114.23, 114.62, 115.00
Support: 113.56, 113.14, 112.70

GBP/USD

GBPUSD

Yesterday the pair traded in a narrow range. However, the Bank of England’s statement about possibly increasing monetary easing put some pressure on pair. US Orders for Durable Goods came out better than expected. Meanwhile, the pair grew to start today’s trading day thanks to technical factors.

US labor market data scheduled for 12:30 GMT will impact the pair today. Additionally, US Q2 GDP data will be published later on today.

Resistance: 1.3063, 1.3119, 1.3178
Support: 1.3002, 1.2953, 1.2912

 

Stock Market

Dow Futures

Dow

Major US stock indices closed yesterday’s trading in the green zone thanks to positive data on US Durable Goods Orders. A rise in Oil prices’ rise provided support for stock markets.

Today, US economic statistics will impact the market.

Resistance: 18295.00, 18343.00, 18384.00
Support: 18220.00, 18180.00, 18143.00

 

Commodities

GOLD

Gold

Yesterday, gold fell to new weekly lows against a growing US dollar. Positive data on the US economy provided some pressure on gold.

Today, investors will closely monitor incoming US data.

Resistance: 1327.77, 1332.78, 1339.40
Support: 1317.58, 1311.74, 1307.00

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