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Daily market review

Daily Market Review – 23/08/2016

PMI Reports Across Europe & the US are today’s market-movers.

 

Forex

EUR/USD

EURUSD august 23

The pair showed growth yesterday as traders are waiting for the annual Jackson Hole Symposium. The main event of the highly anticipated symposium will come on Friday with a speech from Federal Reserve Chair Janet Yellen. This speech should signal to traders whether the Fed will pursue a more or less aggressive policy who could use this speech as an opportunity to signal a more or less aggressive monetary policy.

So far today a slew of PMI reports influenced the pair. Later on today at 13:45 GMT will the US Manufacturing PMI. Then at 14:00 GMT will be the US New Home Sales report.

Resistance: 1,13470, 1,13655, 1,13822
Support: 1,13027, 1,12817, 1,12572

USD/JPY

USDJPY august 23

Yesterday the Japanese currency came under heavy pressure as Bank of Japan Governor, Haruhiko Kuroda mentioned the likelihood of a rate cut. However, the yen regained some ground in the evening.

Earlier this morning, the Japanese Manufacturing PMI beat most analysts’ expectations but indicated that an economic slowdown may occur. Today at 13:45 GMT the same report for US will be published. Additionally, the U.S. New Home Sales, scheduled for 14:00 should additionally impact the market.

 

Resistance: 100,379, 100,650, 100,916
Support: 99,846, 99,524, 99,056

 

Stock Market

NASDAQ Futures

NASDAQ august 23

US stock indexes fell slightly yesterday, thanks to another decline of oil prices. Meanwhile, investors are awaiting Friday’s Jackson Hole Symposium, from the 25-27. This can impact trading throughout the duration of the week, especially on Friday when Janet Yellen takes the floor.

Today, traders will look after US economic statistics starting at 13:45 GMT.

Resistance: 4821,29, 4825,74, 4831,88
Support: 4806,24, 4801,58, 4796,81

 

Commodities

Crude Oil Futures

CrudeOil august 23

Quotations of “black gold” started to fall, after rising by 11% over the previous eight sessions. Most analysts believe that the latest rise was more of technical related than fundamental.

Many feel that prices will ultimately continue to fall as a global oil surplus still and will continue to exist for a long time. Additionally, Iraq seeks to increase its production by 5%, which can exacerbate the problem. US inventory volume is scheduled to be published at 21:35 GMT should impact the market today and tomorrow.

Resistance: 47,60, 48,40, 49,15
Support: 46,52, 45,82, 45,05

Daily Market Review – 22/08/2016

Today’s trading will revolve solely around the mood of investors.

 

Forex

GBP/USD

GBPUSD august 22

The British pound fell against the US dollar last Friday as the Fed’s policy committee is divided over when to move rates. Currently many are unsure as to how to measure the strength of the US economy and uncertain about what threats still exist in Europe. That issue will almost certainly be discussed at the upcoming Central Banks yearly summit in Jackson Hole, Wyoming, this week from August 27-29.

Resistance: 1.30863, 1.31245, 1.31698
Support: 1.30210, 1.29795, 1.29342

AUD/USD

AUDUSD august 22

Demand for the US currency grew as Fed officials provided a slew of statements that provided great support for the US dollar. Fed speakers, William C. Dudley and John Williams were openly advocating a rate hike.

This week will be full of important economic events including the Jackson Hole Summit and US GDP, which will undoubtedly influence the pair.

Resistance: 0.75973, 0.76258, 0.76531
Support: 0.75657, 0.75380, 0.75059

 

Stock Market

FTSE Futures

FTSE august 22

Most European stock indices closed Friday trending downwards, with traders still worried about the region’s economy after Brexit. Today so far the FTSE 100 is listed at 6,862.44, up 0.05%.

Resistance: 6874.20, 6900.20, 6923.70
Support: 6826.50, 6799.20, 6777.00

 

Commodities

GOLD

Gold august 22

Gold fell sharply last Friday, helped by the US dollar strengthening on U.S. rate hike prospects. Currently gold is trading at 1,337.95, down 0.62%.

Resistance: 1335.97, 1340.63, 1346.15
Support: 1331.31, 1326.98, 1322.33

Daily Market Review — 11/08/2016

US labor market data at 12:30 GMT will be today’s main event

 

Forex

EUR/USD

EURUSD august 11

The pair spent yesterday’s session caught in a downtrend as US JOLTS Job Openings came out better than expected.

Today will be the weekly US Jobless Claims, scheduled for 12:30 (GMT).

Resistance: 1.11881, 1.12071, 1.12328
Support: 1.11487, 1.11205, 1.10926

USD/CAD

USDCAD august 11

The Canadian dollar stopped its upward trend as oil, Canada’s primary export, lost nearly $2.00 yesterday. Additionally, US labor market data further helped.

Today, the US will publish its weekly Jobless Claims report at 12:30 GMT.

Resistance: 1.30859, 1.31108, 1.31337
Support: 1.30469, 1.30257, 1.30004

 

Stock Market

S&P500 Futures

SP500 august 11

U.S. stocks ended yesterday slightly lower, with the S&P 500 retreating from record highs as the energy sector came under renewed pressure. Although most indexes yesterday opened with marginal gains that all changed as crude-oil futures slumped following data on supply and production.

Today the market will be impacted by more earnings reports and the weekly for US Unemployment Claims findings.

Resistance: 2178.39, 2181.91, 2185.34
Support: 2169.43, 2164.87, 2160.13

 

Commodities

Crude Oil Futures

CrudeOil august 11

Oil lost about $2 after US Department of Energy published its weekly crude inventory report and on news that Saudi Arabia is producing oil at record levels. Many feel that an oversupply will continue to remain well into next year.

Oil production from OPEC member nations additionally increased, boosted by producers such as Iraq and Iran, offsetting the impact of militant attacks in Nigeria. Today’s further dynamics will depend on the US currency fluctuations.

Resistance: 41.94, 42.50, 43.33
Support: 41.00, 40.43, 39.88

Daily Market Review — 10/08/2016

New Zealand’s interest rate outcome will be today’s market-moving event.

 

Forex

AUD/USD

AUDUSD august 10

The USD fell during yesterday’s trading as analysts assessed the likelihood that the U.S. Federal Reserve will raise interest rates this year. In Australia, Reserve Bank Governor Glenn Stevens said the RBA faces a difficult job balancing various economic risks and could potentially undershoot its inflation target if that is the “least bad option”.

Today’s U.S. JOLTS Job Openings set for 14:00 GMT will most probably impact the pair.

 

Resistance: 0.77067, 0.77417, 0.77756
Support: 0.76784, 0.76586, 0.76329

 

NZD/USD

NZDUSD august 10

The pair grew considerably yesterday thanks to poor US statistics. However, strong NFP data is still providing solid support for the US dollar.

Today, traders are waiting for Reserve Bank of New Zealand to announce its Monetary Policy at 21:00 GMT. Most analysts expect the regulator will cut the interest rates this time and again in November.

Resistance: 0.72247, 0.72410, 0.72614
Support: 0.71907, 0.71689, 0.71489

 

Stock Market

E.ON AG (EONGn)

E.ON AG august 10

Today German energy company E.ON AG will publish its quarterly report. Analysts believe that its average earnings per share will be $0.06 with its total revenue hitting 25.79 billion. If the results match or exceeds the forecasts, its share price may rise to $10.

Resistance: 9.551, 9.695, 9.860
Support: 9.300, 9.173, 9.053

 

Commodities

GOLD

Gold august 10

Gold prices rose modestly on Tuesday as weaknesses in the U.S. dollar boosted the precious metal.

Gold prices have fallen since last week’s stronger-than-expected July jobs report as it is increasing speculation that the Fed may raise the rates sooner than later. So far this month gold futures are down about 0.8%, but year-to-date are up 27%, underpinned by global economic uncertainty and bets that the rates will stay lower for a longer period of time.

Resistance: 1356.97, 1361.36, 1366.20
Support: 1346.73, 1341.07, 1333.88

Daily Market Review — 09/08/2016

Report on US oil stocks will impact the markets.

 AUDJPY august 9

Forex

AUD/JPY

The pair trended upwards yesterday despite negative data regarding the Australian labor market. News from China proved to be the main difference as its Trade Balance surplus helped the pair grow. It should be noted that China is Australia’s main trading partner so any positive data emanating from China will generally help the AUD. Today so far, the pair is still moving upwards thanks to a better than expected Chinese CPI.

However, that could change later on today as Japan will publish its Core Machinery Orders findings at 23:50 GMT. If it comes in better than expected the pair may fall.

Resistance: 78.658, 79.077, 79.522
Support: 77.734, 77.416, 77.003

GBP/JPY

GBPJPY august 9

Yesterdays’ trading session was relatively calm but the pair is still feeling the negative effects of the UK interest rate slash. The pair is currently listed at 132.99, down 0.45%, thanks to poor UK Manufacturing Production.

Resistance: 133.640, 134.643, 135.431
Support: 132.482, 131.677, 130.624

 

Stock Market

FTSE Futures

FTSE august 9

The FTSE 100 grew along with many other stock indexes across Europe during yesterday’s session as bank and mining stock prices rose. Additionally, better than expected German Industrial Production data along with a solid Eurozone Sentix Investor Confidence helped as well.

Currently, the FTSE 100 is listed at 6,830.81, up 0.32% despite a poor UK Manufacturing Production report.

Resistance: 6775.40, 6803,60, 6833,30
Support: 6756.40, 6735.30, 6711.20

 

Commodities

Crude Oil Futures

CrudeOil august 9

Oil prices rose yesterday after news that OPEC is entertaining the thought of freezing oil production. However, additional price growth may be limited especially if drilling rigs in the US continues to rise. Furthermore, Saudi Arabia cut prices for Asian buyers. Today, data on oil stocks in US will impact the markets.

Resistance: 43.32, 43.87, 44.46
Support: 42.21, 41.84, 41.35

Daily Market Review — 08/08/2016

China Trade Balance will impact the US markets today

 

Forex

AUD/USD

AUDUSD august 8

Although the Reserve Bank of Australia’s interest rate decision provided some support for the pair on Friday the NFP report ultimately caused the pair to fall. NFP came out better than expected at 255K, as opposed to the 180K forecast causing the USD to surge.

The pair started off the week on the rise thanks to stellar Chinese Trade Balance findings. Later today at 14:00 GMT the U.S. Labor Market Conditions Index will be published.

Resistance: 0.76246, 0.76455, 0.76823
Support: 0.75911, 0.75649, 0.75362

EUR/USD

EURUSD august 8

The pair dropped significantly on Friday, with poor German Factory data commencing the fall and better than expected NFP data cementing the fall. The pair can potentially fall even more as many are speculating the Fed may raise the rates sooner than anticipated.

So far this morning German Industrial Production matched expectations. Later on at 14:00 GMT, Eurozone Sentix Investor Confidence should make its mark on the markets.

Resistance: 1.11201, 1.11526, 1.11979
Support: 1.10670, 1.10441, 1.10162

 

Stock Market

S&P500 Futures

SP500 august 8

Major US stock indexes jumped up more than 1% last Friday thanks to a solid NFP report. Meanwhile, the unemployment rate remained unchanged. So far today China posted a stellar Trade Balance report. This of course has the potential to impact the global index markets.

Resistance: 2179.65, 2183.23, 2188.57
Support: 2173.58, 2170.44, 2167.30

 

Commodities

GOLD

Gold august 8

Gold lost almost $25 at Friday’s session thanks as the USD strengthened after an excellent NFP report. Today’s trading dynamics will ultimately depend on the U.S. Labor Market Conditions Index scheduled for 14:00 GMT.

Resistance: 1345.48, 1350.67, 1358.63
Support: 1333.88, 1328.31, 1322.70

Daily Market Review — 04/08/2016

Bank of England’s interest rate meeting is today’s major market-moving event.

 

Forex

GBP/JPY

GBPJPY august 4

The British currency strengthened significantly against the Japanese yen yesterday thanks to the UK Services PMI matching expectations. Today the Bank of England will announce its interest rate decision at 11:00 GMT, with the majority of analysts believing that rates will decrease from 0.5% to 0.25%.

Resistance: 135.431, 136.089, 136.606
Support: 134.601, 134.138, 133.573

USD/CAD

USDCAD august 4

Yesterday the pair trended negatively, with the Canadian dollar strengthening thanks to the oil market. The US Department of Energy published its weekly inventory report yesterday, with the stocks falling more than what was anticipated, causing oil prices and the Canadian dollar to rise. It should be noted that because the Canadian economy is heavily dependent on the energy sector this report has heavy significance.

Today’s US labor market data scheduled for 12:30 GMT will impact the markets. Tomorrow at 12:30 GMT will be the highly anticipated NFP report and Canada’s monthly labor market data.

Resistance: 1.30859, 1.31108, 1.31337
Support: 1.30469, 1.30257, 1.30004

 

Stock Market

FTSE Futures

FTSE august 4

Major European stock markets finished yesterday with mixed results. Services PMI in France, Germany, Britain and Eurozone showed moderate growth, impacting the markets. Today’s Bank of England’s interest decision will certainly influence the FTSE 100.

Resistance: 6607.90, 6622.30, 6636.50
Support: 6587.00, 6575.00, 6564.30

 

Commodities

GOLD

Gold august 4

Gold prices lost almost $10 yesterday as the US currency strengthened thanks to a spout of positive US labor market data, highlighted by the ADP Non-Farm Employment Change. Today at 12:30 GMT the weekly US Unemployment Claims report will be published, which should impact gold prices.

Resistance: 1362.13, 1368.84, 1376.97
Support: 1347.45, 1340.16, 1333.88

Daily Market Review — 03/08/2016

Today’s US ADP Non-Farm Employment Change will be today’s most important event

 

Forex

EUR/USD

EURUSD august 3

The pair grew strongly yesterday thanks to better than expected Eurozone PPI. In the US however, poor US GDP data from last week and mixed data on personal income and spending pushed the dollar down.

U.S. ADP Non-Farm Employment Change scheduled for today 12:15 GMT will impact the pair the most.

And of course traders are waiting for Friday’s NFP.

Resistance: 1.12341, 1.12958, 1.13488
Support: 1.11810, 1.11527, 1.11183

GBP/USD

GBPUSD august 3

The British currency strengthened yesterday against US dollar, helped by better-than-expected data on U.K. Construction PMI. A drop-off in the US currency helped the pair rise as well. Meanwhile, investors are looking ahead to tomorrow’s Bank of England’s interest rate meeting and Friday’s NFP. Thus far today, the pair is trading at 1.3347, down 0.07% as the UK Services PMI matched expectations.

Later on today at 12:15 GMT, the US ADP Non-Farm Employment Change should heavily impact the pair and the markets in general.

Resistance: 1.33551, 1.34221, 1.34893
Support: 1.33002, 1.32566, 1.32099

 

Stock Market

(HSBC) L

HSBC L august 3

HSBC, one of the biggest investment banks in the world presented its quarterly report before the markets opened. Despite earnings falling 45 percent to $3.61 billion from a year earlier, shares rose by 3.8 percent, the most since April after the bank announced a $2.5 billion stock buyback for this year.

Resistance: 506.471, 513.032, 520.322
Support: 490.190, 482.413, 476.824

 

Commodities

Crude Oil Futures

CrudeOil august 3

Oil fell to $39.26 per barrel yesterday due a seemingly continuous oversupply. The US Department of Energy will publish its weekly report today at 14:30 (GMT).

Resistance: 39.90, 40.60, 41.28
Support: 39.26, 38.55, 37.82

Daily Market Review — 02/08/2016

US inflation data will be today’s market mover.

 

Forex

EUR/GBP

AUDUSD august 2

The pair grew somewhat yesterday after France, Germany and the Eurozone manufacturing PMI’s came out better than expected. However, a similar report on the British economy disappointed investors, with the actual data being slightly below forecasts.

Today’s U.K. Construction PMI should impact the market today.

Resistance: 0.85007, 0.85361 0.85785
Support: 0.84465, 0.8162, 0.83855

AUD/USD

EURGBP august 2

The pair showed grew significantly during first half of yesterday’s session thanks to a spate of positive Chinese economic statistics. But then it started to fall as traders were waiting for the Reserve Bank of Australia’s meeting. This morning unsurprisingly at 4:30 GMT they lowered the nation’s interest rate level from 1.75% to 1.5%. Low inflation was the primary cause. Today US inflation data at 12:30 (GMT) should impact the pair’s dynamics.

Resistance: 0.75636, 0.75951, 0.76246
Support: 0.75288, 0.75003, 0.74672

 

Stock Market

Dow Futures

Dow august 2

Major US stock indexes fell moderately yesterday as energy stocks declined, thanks falling oil prices. Additionally, weak statistics on US ISM Manufacturing PMI put even more pressure on the market.

Today’s trading dynamics will depend on US inflation data at 12:30 GMT.

Resistance: 18356.27, 18385.32, 18416.60
Support: 18303.09, 18263.20, 18222.86

 

Commodities

GOLD

Gold august 2

Gold showed almost zero changes yesterday as mixed US economic statistics dominated the headlines. Today, various US statistics will impact the market. Currently, it is trading at 1,366.35, up 0.50%.

Resistance: 1362.13, 1368.84, 1376.97
Support: 1353.02, 1345.27, 1337.12

Daily Market Review — 01/08/2016

US Manufacturing PMI will today’s most important event.

 

Forex

EUR/USD

EURUSD august 1

The pair rose significantly last Friday, helped by Eurozone GDP data for Q2 2016, with data matching analysts’ forecasts. US GDP on the other hand came out lower than expected. Against that background, investors started to get rid of US dollar causing the pair to rise. Today’s trading will depend on the US ISM Manufacturing PMI, scheduled for 14:00 GMT.

Resistance: 1,11957 1,12341, 1,12958
Support: 1,11527, 1,11183, 1,10802

AUD/JPY

AUDJPY august 1

The pair fell significantly after the Bank of Japan announced its meeting’s results on Friday. Today however, a better than expected Chinese Manufacturing PMI provided some key support.

Now traders are waiting for Reserve Bank of Australia Interest Rate meeting, scheduled for Tuesday at 4:30 GMT.

Resistance: 78,195, 78,692, 79,215
Support: 77,734, 77,416, 77,003

 

Stock Market

IBEX Futures

IBEX august 1

Major stock indexes across Europe including the IBEX Futures grew last Friday thanks to solid Eurozone Q2 GDP data. In addition, Eurozone CPI grew more than analysts expected.

Meanwhile, earning season continues, with traders awaiting new quarterly reports.

 

Resistance: 8575,59, 8700,25, 8806,73
Support: 8435,35, 8295,11, 8162,66

 

Commodities

Crude Oil Futures

CrudeOil august 1

Oil prices fell to $40.55 per barrel last Friday, with fears of global oversupply being the primary catalyst. During the second half of the day the dynamics changed significantly. This week, traders will pay a lot of attention to data on oil stocks from the American Petroleum Institute and the US Department of Energy.

Resistance: 41,94, 42,40, 43,00
Support: 40,55, 40,06, 39,63