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DAILY MARKET REVIEW — 14/12/2016

The FOMC Meeting is today’s most impactful event.

 

Forex

EUR/USD

EURUSD dec 14

The pair fell slightly yesterday as the Eurozone and German ZEW Economic Sentiments failed to impress. Additionally, the Eurozone employment change fell.

Today will be the FOMC Meeting where the Fed will determine the interest rate. Most experts believe that Fed will hike the rates from 0.5% to 0.75%. Nevertheless, investors are interested primarily in the pace and timing of further monetary tightening decisions.

Resistance: 1.06662, 1.07071, 1.07661
Support: 1.06054, 1.05508, 1.05068

USD/CHF

USDCHF dec 14

The Swiss franc continues to strengthen against the US dollar since the beginning of the week as traders are awaiting tonight’s FOMC decision. However, a lot of US economic statistics will be published before the announcement, starting with the US Producer Price Index will be published at 13:30 GMT followed by the Retail Sales data at 14:15 GMT.

Tomorrow the Swiss National Bank will announce its interest rate decision.

Resistance: 1.01305, 1.01548, 1.01815
Support: 1.00999, 1.00780, 1.00539

 

Stocks

Boeing Company (BA)

Boeing dec 14

Yesterday it became known that Boeing will hike its quarterly dividend by 30%, with the hope of returning increased value to shareholders. It will replace the existing share repurchase program with a new $14 billion authorization.

At the end of yesterday’s trading shares fell by 0.32%, although before the opening bell it showed an increase of 1.67%.

Resistance: 157.29, 158.32, 159.98
Support: 155.35, 154.24, 153.23

 

Commodities

Brent Oil Futures

BrentOil dec 14

Oil quotations fell slightly yesterday, which served as partial profit-taking after growing significantly. Yesterday, there was some pressure from the API as it indicated that stocks grew by 4.38 million barrels compared to 1.5 million barrel decrease. Today’s dynamics will be dependent on US Department of Energy’s report at 15:30 GMT.

Resistance: 55.50, 56.25, 57.00
Support: 54.90, 54.35, 53.80