13:46:06 GMT
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DAILY MARKET REVIEW — 10/01/2017

Chinese economic statistics were today’s market mover

 

Forex

AUD/USD

AUDUSD

Data on the US labor market came out mixed last Friday which impacted the pair. However, data on Australian building permits provided support for pair.

Meanwhile, China’s Consumer Price Index came out better than expected this morning, which had a positive impact on the Australian currency.

Today’s US JOLTs job openings, scheduled for 15:00 GMT will impact the pair the most.

Resistance: 0.73864, 0.74134, 0.74319
Support: 0.73397, 0.73138, 0.72875

GBP/USD

GBPUSD

The British pound declined sharply against the US dollar yesterday as British Prime Minister Theresa May stated that the UK will for sure leave the EU.

Today the pair will depend on US currency dynamics. Traders are additionally awaiting the UK Industrial Production, scheduled for tomorrow.

 

Resistance: 1.21809, 1.22197, 1.22633
Support: 1.21254, 1.20955, 1.20700

 

Stocks

NASDAQ Futures

NASDAQ

Major US stock markets closed with mixed results yesterday, with the NASDAQ updating its historical record. U.S. Fed labor market conditions index put additional pressure on the stock markets.

Today’s trading dynamics will depend on investor sentiment and risk appetite.

Resistance: 5029.15, 5042.00, 5055.00
Support: 5006.84, 4994.40, 4978.23

 

Commodities

Brent Oil Futures

BrentOil

Oil fell to one-month lows yesterday as Iran and Iraq increased supplies. Additionally, the number of US drilling rigs increased by four units.

Analysts believe that the first signs of oil output reduction will be seen only in the second half of February.

Resistance: 55.41, 56.00, 56.43
Support: 54.45, 53.80, 53.28