13:46:06 GMT
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DAILY MARKET REVIEW — 12/12/2016

Tomorrow’s FOMC meeting will dominate the markets today.

 

Forex

GBP/USD

GBPUSD dec 13

The pound grew against the US dollar yesterday thanks to updated UK growth forecasts and a general weakening of the USD.

Today, the pair will be impacted by the UK CPI, scheduled for 09:30 GMT. Of course traders are waiting for Fed’s upcoming FOMC Statement.

Resistance: 1.27044, 1.27359, 1.27652
Support: 1.26208, 1.25920, 1.25520

AUD/JPY

AUDJPY dec 13

The Australian dollar rose against the Japanese yen yesterday as there was a decrease in demand for the safe assets such as the yen. Additionally, market participants often prefer to buy the Australian dollar when the commodity market is performing well.

So far Chinese Retail Sales data came out better than expected. Later on today at 23:50 GMT Japan will publish its Manufacturing and Non-Manufacturing indexes, which should impact the pair.

Resistance: 86.611, 87.117, 87.474
Support: 86.036, 85.700, 85.316

 

Stocks

JPMorgan Chase (JPM)

JPMorgan Chase dec 13

Yesterday JPMorgan’s CEO Jamie Dimon said that it may consider paying a special, one-time dividend should the stock reach “a certain price.” This would be done instead of increasing share repurchases as a way of returning some of the bank’s excess capital. After the statement its share price closed in the red and lost about 0.89% of its value.

Resistance: 85.78, 86.50, 87.50
Support: 83.70, 82.27, 80.82

 

Commodities

GOLD

Gold dec 13

Gold prices yesterday grew, with investors adjusting their positions before announcement of the US Fed meeting. It should be noted that most analysts believe the Fed will raise the rates by 25 basis points tomorrow. However, the market reaction can be unpredictable. Therefore, the accompanying statement will be particularly important tomorrow.

Resistance: 1165.71, 1172.02, 1178.51
Support: 1157.17, 1151.23, 1145.35