13:46:06 GMT
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DAILY MARKET REVIEW — 19/12/2016

Germany’s Ifo Business Climate index will today’s main market mover.

 

Forex

EUR/USD

EURUSD dec 19

The pair grew last Friday as the US currency corrected itself. Data on the Eurozone economy additionally provided some support for the pair. Thus, the CPI matched the forecast, while November US Building Permits data disappointed investors and pushed the US dollar down.

Today, traders should pay attention to the German Ifo Business Climate index scheduled for 9:00 GMT. Then today at 11:00 GMT the Bundesbank will publish its monthly report.

Resistance: 1.04852, 1.05270, 1.05885
Support: 1.04093, 1.03658, 1.03182

USD/JPY

USDJPY dec 19

The Japanese currency strengthened against the US dollar during Friday’s session as US real estate sector data came out worse than expected.

Today, the US Flash Services PMI, scheduled for 14:45 GMT will impact the pair. However, tomorrow’s Bank of Japan meeting at 3:00 GMT will be followed by its all-important press conference at 6:30 GMT.

Resistance: 117.653, 118.418, 119.089
Support: 116.406, 115.9884, 115.471

 

Stocks

FedEx Corporation (FDX)

FedEx dec 19

FedEx will publish its quarterly report tomorrow. According to leading analysts, its earnings per share (EPS) should reach $2.89, with total revenue growing to $12.43 billion. If FedEx surpasses expectations it will be six times in a row.

Resistance: 197.40, 199.68, 201.41
Support: 195.46,193.69, 191.62

 

Commodities

Brent Oil Futures

BrentOil dec 19

Oil grew on Friday as leading oil manufacturers are getting ready to reduce their oil output come January 1.

At the same time, the number of US drilling rigs increased by 12 units last week.

Resistance: 55.82, 56.43, 57.00
Support: 54.90, 54.35, 53.80