DAILY MARKET REVIEW — 30/11/2016

DAILY MARKET REVIEW — 30/11/2016

Personal US income and spending was today’s main event

Forex

USD/JPY

USDJPY nov 30

The pair grew yesterday, with US GDP Q3 data coming out better than expected. Japanese industrial production data additionally came out positive.

So far today the US dollar remained moderately higher against the other major currencies. U.S. payroll processing firm ADP said non-farm private employment rose by 216,000 in November, above forecasts for an increase of 165,000.

Separately, the U.S. Commerce Department said that personal spending increased by 0.3% in October, below expectations for a 0.5% gain. Meanwhile, personal income rose by 0.6% in October, compared to an expectation of only 0.4%.

Resistance: 113,769, 114,598, 115,916
Support: 111,323, 109,740, 108,548

AUD/JPY

AUDJPY nov 30

The pair grew yesterday due to positive dynamics in the commodity markets despite a solid Japanese Manufacturing PMI and worse than expected Australian Housing Credit data helped.

Today’s dynamics will be impacted by the Australian AIG Manufacturing Index, scheduled for 22:30 GMT.

Resistance: 84,606, 85,350, 85,981
Support: 83,486, 82,639, 81,909

 

Stock Markets

DAX Futures

DAX nov 30

Major European stock indexes rose slightly yesterday as the European banking sector grew. Nevertheless, investors are apprehensive about today’s OPEC meeting in Vienna.

Resistance: 10708,70, 10767,00, 10814,70
Support: 10598,80, 10547,10, 10490,10

 

Commodities

GOLD

Gold nov 30

Gold was fell yesterday as the US dollar strengthened after better than anticipated US GDP data. Today’s dynamics will depend on US economic statistics and on the OPEC decision.

Resistance: 1202,88, 1220,74, 1233,24
Support: 1170,29, 1154,15, 1140,04

 

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