Daily Market Review – 31/08/2016

Daily Market Review – 31/08/2016

ADP Non-Farm Employment Change will be today’s main focus 

Forex

USD/CAD

USDCAD

The US currency is still trending upwards thanks in part to last week’s Jackson Hole Summit and a better than expected U.S. CB Consumer Confidence index.

Today at 12:15 GMT, ADP Non-Farm Employment Change data will be published. Additionally Canada’s Q2 GDP report is scheduled for 12:30 GMT.

But of course this week’s main event is NFP.

Resistance: 1.3111, 1.3146, 1.3187
Support: 1.3047, 1.2993, 1.2939

EUR/JPY

EURJPY

The Japanese currency continues to fall as Bank of Japan Governor Haruhiko Kuroda continues to reiterate that he will boost the monetary stimulus package if needed. Germany Consumer Price Index came out below the average forecasts. Japan Industrial Production showed a zero change in monthly terms and impacted the pair.

Today’s trading dynamics will depend on the Germany Unemployment Change and the Eurozone Consumer Price Index, scheduled for 7:55 and 9:00 GMT respectively.

 

Resistance: 115.21, 115.69, 116.13
Support: 114.67, 114.34, 114.01

 

Stock Market

Gazprom PAO (GAZP)

GAZPROM

Gazprom is set to publish its quarterly report. According to the analysts’ forecast earnings per share should reach 13.56 rubles, while total revenue should rise to 1656.50 billion rubles. If the actual data matches the expectations, the share price could rise to 142 rubles per unit.

Resistance: 137.84, 139.45, 141.55
Support: 134.22, 132.45, 130.76

 

Commodities

GOLD

Gold

Gold dropped yesterday back to its five-weeks lows. Yesterday’s better than anticipated US Consumer Confidence Index was the main catalyst.

Today’s trading dynamics will depend heavily on the ADP Non-Farm Employment change, scheduled for 12:15 GMT.

Resistance: 1317.85, 1323.54, 1329.75
Support: 1310.20, 1304.83, 1298.95

 

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