13:46:06 GMT
Forgot Password? Click Here

DAILY MARKET REVIEW — 20/12/2016

Bank of Japan’s interest rate decision was today’s main highlight.

 

Forex

GBP/JPY

GBPJPY dec 20

The pair fell somewhat during yesterday’s trading after news broke that Scotland will hold a referendum on exiting the U.K. unless it can stay in the European Union single market. However, later in the evening the pair regained some of its lost positions.

This morning the Bank of Japan decided to maintain its interest rate. The bank did say it would purchase bonds for approximately 80 trillion yen per year, which is what they are currently paying.

Today’s CBI Realized Sales index, scheduled for 11:00 GMT will impact the pair.

Resistance: 146.344, 147.306, 148.330
Support: 145.199, 144.531, 143.751

USD/CAD

USDCAD dec 20

Yesterday the US currency strengthened somewhat against the Canadian dollar, thanks to an uptick in demand. This came about despite a slightly worse than expected US Services PMI.

It should be noted that the dollar is still feeling the positive effects of the FOMC Statement. Janet Yellen mentioned that the labor market is substantially stronger, with an increase in the number of jobs. However, she did mention that labor productivity is disappointing.

Today’s Canadian Wholesale Sales report, scheduled for 13:30 GMT will impact the market.

Resistance: 1.34330, 1.34613, 1.34802
Support: 1.33699, 1.33236, 1.32740

 

Stocks

Nike Inc (NKE)

Nike dec 20

Today after the markets close Nike will publish its quarterly report.

According to analysts, its earnings per share (EPS) should reach $0.43, with revenue totaling $7.81 billion. If expectations are met its share price may reach $52.00.

Resistance: 51.05, 51.28, 51.52
Support: 50.62, 50.45, 50.25

 

Commodities

GOLD

Gold dec 20

Gold grew yesterday as the US dollar weakened. Today, the precious commodity on investor sentiment.

Resistance: 1139.74, 1144.53, 1149.33
Support: 1131.65, 1127.88, 1122.81