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Daily market review

DAILY MARKET REVIEW — 21/11/2016

ECB President Draghi’s statement will today’s main event

Forex

EUR/JPY

EURJPY nov 21

The pair grew during the first half of Friday’s trading session, with the German PPI coming out higher than expected along with solid data on Eurozone balance of payments.

However, the pair fell slightly during ECB President Mario Draghi’s statement, who stressed its commitment to loosen monetary policy. Today will feature another statement from ECB President Mario Draghi, scheduled for 16:00 GMT.

Resistance: 118.226, 118.788, 119.303
Support: 117.418, 116.966, 116.401

USD/CAD

USDCAD nov 21

The pair fell during Friday’s session as the Canadian CPI matched the forecast, providing key support for the Canadian dollar. Additionally, growing oil prices played a key role.

Today, Canada Wholesale Sales, scheduled for 13:30 GMT will impact the market.

Resistance: 1.34969, 1.35306, 1.35625
Support: 1.34339, 1.33990, 1.33664

 

Stocks

Samsung Electronics Co Ltd

Samsung nov 21

Despite the Galaxy Note7 scandal, the company will ultimately release it when all bugs are fixed. Additionally, the company is pointing to a holographic TV. Furthermore, Samsung is rumored to finally release a commercial foldable smartphone, a technology Samsung has been testing for years. Finally, last week Samsung purchased Harman, an American automotive electronics manufacturer. All of these factors are what’s making Samsung an attractive investment option for investors.

Resistance: 680.75, 688.79, 695.28
Support: 670.07, 661.81, 654.22

 

Commodities

Brent Oil Futures

BrentOil nov 21

Last Friday oil grew as it seems OPEC member countries are ready to enact an oil production freeze. The next meeting is scheduled for November 30 and will take place in Vienna. However, a strong US dollar may cap oil price growth.

Resistance: 47.92, 48.41, 49.09
Support: 46.90, 46.37, 45.90

DAILY MARKET REVIEW — 17/11/2016

Fed Janet Yellen’s statement will be today’s primary market mover

Forex

EUR/USD

EURUSD nov 17

The pair continued to fall yesterday due to political factors. Interestingly enough worse than expected US industrial production data did nothing to hurt the dollar.

Today’s dynamics will depend on US labor market data scheduled for 13:30 GMT. Janet Yellen’s testimony regarding economic outlook will make the most noise.

Resistance: 1.07502, 1.08173, 1.09196
Support: 1.06660, 1.06134, 1.05638

GBP/USD

GBPUSD nov 17

Yesterday, the pound fell against its US counterpart as demand for the dollar is increasing. Data on the British labor market put some pressure on the pair.

Today’s dynamics will ultimately depend on UK retail sales data scheduled for 9:30 GMT, followed by the US CPI at 13:30 GMT.

Resistance: 1.24720, 1.25154, 1.25561
Support: 1.23831, 1.23522, 1.23226

 

Stocks

Wal-Mart Stores, Inc (WMT)

Wal-Mart nov 17

Walmart, one of the largest retailers will publish its quarterly report before the market opens. Its earnings per share (EPS) is expected to be $0.96, with its total revenue at $117.9 billion. If the projections matches or exceeds expectations its share price could rise to $73.00.

Resistance: 72.06, 72.67, 73.23
Support: 70.83, 70.20, 69.70

 

Commodities

GOLD

Gold nov 17

Gold traded in a narrow range yesterday, but it still remains under pressure, with the USD being the main catalyst. Today’s US CPI and Janet Yellen’s statement will impact the markets.

Resistance: 1231.37, 1241.95, 1251.68
Support: 1216.77, 1207.28, 1199.62

DAILY MARKET REVIEW — 16/11/2016

US economic data will drive the markets today

 

Forex

NZD/USD

NZDUSD nov 16

The US dollar grew strongly against the major currencies yesterday as traders increasingly believe the Fed will soon raise the rates. Additionally, US Retail Sales data came out better than expected, with it hitting 0.8%. Furthermore, US NY Empire State Manufacturing Index recorded its largest increase since June, 2016.

Today, US Industrial Production, scheduled for 14:15 GMT will impact the markets. Later on at 21:45 GMT, New Zealand will publish its Retail Sales report.

Resistance: 0.71395, 0.71753, 0.72282
Support: 0.70694, 0.70343, 0.70022

GBP/JPY

GBPJPY nov 16

The British pound fell against the yen yesterday thanks to weak UK inflation data. However, Mark Carney’s statement ultimately provided some support for the British currency. He stated that the inflation rate may rise to compensate for the falling British pound exchange rate. This in turn may force the Bank of England to revise the parameters of its monetary policy.

Today at 9:30 GMT, British labor market data will be published.

Resistance: 136.396, 137.454, 138.407
Support: 135.432, 134.709, 133.835

 

Stocks

FTSE Futures

FTSE nov 16

Major stock indexes rose slightly yesterday thanks to oil prices rising. Additionally, support for the stock market comes with positive economic statistics. The Eurozone ZEW Economic Sentiment increased last month and the UK Consumer Price Index grew as well.

Today important data on the British labor market will impact the FTSE 100.

Resistance: 6832.69, 6865.48, 6902.36
Support: 6760.98, 6724.10, 6696.78

 

Commodities

Brent Oil Futures

BrentOil nov 16

Quotations of “black gold” rose by 3% yesterday as leading analysts believe that OPEC will agree on a production freeze later this month in Vienna on November 30. Oil stocks grew according to the latest API findings.

Today, traders should pay attention to the US Department of Energy’s oil inventory data at 15:30 GMT.

Resistance: 47.40, 47.92, 48.41
Support: 46.90, 46.37, 45.90

DAILY MARKET REVIEW — 15/11/2016

UK CPI will be today’s main event

 

Forex

GBP/USD

GBPUSD nov 15

The pair declined yesterday as traders bought the US currency. Moreover, a lack of important economic statistics made traders start looking ahead to the next Fed meeting.

Today, data on UK core CPI will be published at 9:30 GMT. Then at the 13:30 GMT US retail sales data will be published. Finally at 18:30 GMT Fed vice Chair Stanley Fischer will speak.

Resistance: 1.25154, 1.25561, 1.26141
Support: 1.24433, 1.23940, 1.23522

EUR/USD

EURUSD nov 15

The pair is in the midst of a downtrend for the second consecutive week. Most of investors believe that Trump’s policies will spur US economic growth, thus causing the dollar to go up.

Today’s Eurozone Q3 GDP and German ZEW Economic Sentiment will both be published at 10:00 GMT.

Resistance: 1.07854, 1.08679, 1.09444
Support: 1.07140, 1.06649, 1.06098

 

Stocks

Sberbank (SBER)

Sberbank nov 15

Today, Russia’s state bank Sberbank will publish its Q3 report. Its earnings per share (EPS) is expected to be 5.76 rubles, with total revenue hitting 750.00 billion rubles.

If the forecast matched the share price may rise to 155.00 rubles per unit.

Resistance: 151.47, 153.02, 154.65
Support: 149.23, 148.33, 147.02

 

Commodities

GOLD

Gold nov 15

Gold fell to new five month lows thanks to US dollar’s rally following the presidential election.

Meanwhile, traders are paying special attention to presidential elections in Austria and the constitutional referendum in Italy. Today’s dynamics will depend on US economic statistics.

Resistance: 1231.37, 1241.95, 1251.68
Support: 1216.77, 1207.28, 1199.62

DAILY MARKET REVIEW — 03/11/2016

Bank of England’s interest rate decision will be today’s main market-mover

 

Forex

EUR/GBP

EURGBP nov 3

The British pound strengthened against the euro during yesterday’s session thanks to reports that British High Court will declare its verdict as to whether UK government has the right to enact the Brexit. Additionally, the UK’s Construction PMI helped the pound, despite data on the German labor market coming out better than expected.

Today’s UK Services PMI, scheduled for 9:30 GMT will impact pair’s dynamics. However, today’s interest rate decision from the Bank of England at 12:00 GMT, followed BoE Governor Mark Carney’s speech will be the most impactful event.

Resistance: 0.90331, 0.90487, 0.90673
Support: 0.89964, 0.89802, 0.89644

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DAILY MARKET REVIEW — 02/11/2016

Today’s FOMC Meeting is the most important event

 

Forex

EUR/USD

EURUSD nov 2

The US currency declined during yesterday’s session on the eve of Fed’s meeting. However, the US ISM Manufacturing PMI came out better than most analysts predicted.

Today most market participants will pay attention to today’s U.S. ADP Non-Farm Employment Change scheduled for 12:15 GMT. Of course later on at 18:00 GMT will be the FOMC Statement. Most leading analysts believe the Fed will leave the rates unchanged.

Resistance: 1.11000, 1.11360, 1.11807
Support: 1.10487, 1.10212, 1.09915

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Daily Market Review — 01/11/2016

Australia interest rate decision was today’s main event

 

Forex

USD/JPY

USDJPY nov 1

The pair grew yesterday morning as the FBI deciding to reopen the investigation regarding Hillary Clinton’s emails. Better than expected data on personal income and spending provided additional support for the pair.

However, in the afternoon the pair fell as the Bank of Japan published its interest rate decision. The bank additionally reduced inflation forecasts for the next two financial years.

Today’s US ISM Manufacturing PMI scheduled for 14:00 GMT will impact the pair.

Resistance: 104.972, 105.226, 105.531
Support: 104.562, 104.294, 104.029

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Daily Market Review — 31/10/2016

Eurozone and US CPI findings will be today’s main market-movers

 

Forex

EUR/JPY

EURJPY october 31

The pair trended positively during Friday’s session. The Eurozone Business and Consumer Survey came out better than expected, which provided significant support for EUR. Meanwhile, with the FBI deciding to reopen the investigation regarding Hillary Clinton’s emails may impact the markets and could cause investors to turn to the Japanese currency as a safe asset.

Today Eurozone and US CPI findings will impact the market. Additionally, Eurozone GDP for Q3 2016 scheduled for 10:00 GMT should have an effect.

Resistance: 115.034, 115.313, 115.544
Support: 114.682, 114.375, 114.036

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Daily Market Review — 27/10/2016

UK GDP will be today’s main event

 

Forex

GBP/USD

GBPUSD october 27

The British currency grew against the US dollar yesterday thanks to Bank of England head, Mark Carney stating that further monetary easing is highly unlikely thanks to the pound’s sharp drop.

Today at 8:30 GMT will feature the Preliminary UK Q3 GDP report followed US labor market data at 12:30 GMT.

Resistance: 1,22490, 1,22734, 1,22965
Support: 1,21990, 1,21700, 1,21427

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Daily Market Review — 26/10/2016

Australia’s CPI will be today’s main event.

Forex

AUD/JPY

AUDJPY october 26

The pair showed trended positively yesterday. An uptick in demand for commodities provided great support for the Australian currency. This morning the pair demonstrated sharp growth as Australia’s CPI came out better than expected − 0.7% as opposed to 0.5%. YoY (year over year) wise, Q3 2016 data grew to 1.3%, soundly beating expectations. Thanks to a solid set data the likelihood of further monetary easing measures by the Reserve Bank of Australia greatly reduced.

Further dynamics will depend on the situation in the commodity markets.

Resistance: 80.310, 80.480, 80.623
Support: 80.012, 79.828, 79.620

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