Daily Market Review – 31/12/2015

Daily Market Review – 31/12/2015

US Labor Market Data Publication – Last News of 2015  

Forex

EUR/USD

EURUSD

Yesterday, during the first half of the trading day the pair showed no movement despite a few positive statistics on the Eurozone Economy. According to yesterday’s data, the volume of lending to the private sector has increased more than the average forecast of experts. During the second part of day, the US dollar strengthened somewhat against the Euro on statistics on pending transactions for the sale of housing in the United States; the volume of which fell last month by 0.9%. Today, a traditional report on initial applications for unemployment benefits in the US, the publication of which is scheduled for 13:30 (GMT), may influence the market. It should be noted that the volume of trading today will be at an all-time low because of the New Year’s holidays.

Resistance: 1,0958, 1,1010, 1,1062
Support: 1,0904, 1,0869, 1,0830

AUD/USD

AUDUSD

Yesterday, Australian currency felt somewhat against the US dollar amid falling prices for commodities, including oil. This morning, data on the volume of lending to the private sector in Australia was published, although figures have grown, they fell short of the average analyst forecast values. The current dynamics of pair will depend on the sentiment in commodity markets, as well as the overall dynamics of the American currency. It should be noted that in most world countries it is a shorter working day today. However, the report on the US labor market will be published 13:30 (GMT) and will have some effect.

Resistance: 0,7310, 0,7333, 0,7361
Support: 0,7282, 0,7269, 0,7247

 

Stock Market

Dow Futures

Dow

Major US Stock Markets showed a negative trend yesterday, because of another drop in oil prices, their lowest prices in 11 years. Statistics on inventories from the US Department of Energy, as well as Saudi Arabia’s statement that it is not going to cut production volumes pressured oil quotations. Data on pending transactions for the sale of housing in the US, which declined slightly in the past month, influenced the market. Today, the dynamics of trading may be influenced by the report on the US Labor Market at 13:30 (GMT). In the absence of important economic statistics, trading dynamics will depend on the general mood of investors. Trading volume today will be minimal, because of pending New Year celebrations in the United States.

Resistance: 17548,13, 17583,92, 17608,97
Support: 17493,25, 17453,87, 17407,35

 

Commodities

GOLD

Gold

Precious metals’ prices fell significantly yesterday due to the strengthening US Currency and adjustment of the positions at the end of the year. The quotation dropped below $1060.00 per ounce, approaching the highest lows in the past 6 years. Meanwhile, the focus of investors is on the American statistics that will determine if the US Economy can cope with a further increase in interest rates. Today publication of data on the US Labor Market at 13:30 (GMT) may influence the market.

Resistance: 1066,14, 1072,08, 1078,16
Support: 1059,11, 1052,16, 1047,32

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