DAILY MARKET REVIEW — 30/01/2017

U.S. personal income and spending will be the market movers today

Forex

USD/JPY

USDJPY

The pair has been trending upwards. The Bank of Japan increased its government bond purchases, which put some pressure on Japanese currency. But US GDP suspended pair’s growth. The data were below the average forecasts. And another report showed that orders for durable goods in the US rose slightly. Meanwhile, this week JPY started with strengthening.

Bank of Japan’s interest rate decisions will impact the pair this week.

Resistance: 115.175, 115.620, 116.055
Support: 114.300, 113.760, 113.060

USD/CAD

USDCAD

US statistics impacted the pair at Friday’s session. The main driver for the pair is still oil.

Today, data on US personal income and spending scheduled for 13:30 (GMT) will be main event today.

Also, Canada GDP for November 2016 scheduled for tomorrow.

Resistance: 1.31670, 1.32130, 1.32685
Support: 1.31049, 1.30520, 1.30075

 

Stock Markets

MasterCard Inc (MA)

MasterCard

MasterCard will publish its quarterly report tomorrow before the session starts. According to leading analysts its earnings per share (EPS) should hit $0.86, with total revenue at $2.79 dollars.

Resistance: 110.05, 110.92, 112.00
Support: 108.80, 107.95, 107.00

 

Commodities

Brent Oil Futures

BrentOil

Quotations of “black gold” lost about $1.5 dollars last Friday. Weekly growth in US production completely covers the volumes that are output with the largest oil producers of the market according to the contract concluded in December of last year. At the moment, the price of a barrel of oil is at levels at which it becomes a cost-effective production of shale oil in the United States. This allows many mining companies to return to the market. According to the International Energy Agency, oil production in the US this year could rise to 12.8 million barrels per day from the current 8.9 million. On investor sentiment will be affected by the slightest changes in the physical markets.

Resistance: 56.20, 56.75, 57.20
Support: 55.00, 54.55, 54.00

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