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Daily market review

Daily Market Review

Meetings between the United States and China will determine the direction of the markets

 

Forex

GBP/USD

20170404_GBPUSD

The pair started this week with a serious fall thanks to the start of the Brexit and worse than anticipated UK manufacturing activity data. On the flipside, US economic statistics have been impressive as of late. Take yesterday as an example, with a solid US ISM report. Additionally, statements from various Fed officials regarding future monetary policy gave the dollar another boost.

Currently the US and China are discussing international trade and monetary policy, which is sure to impact the dollar and all of its crosses.

Resistance: 1,25163, 1,25592, 1,25966
Support: 1,24043, 1,23488, 1,23089

EUR/JPY

20170404_EURJPY

The single European currency fell yesterday against most of the majors thanks to a worse than expected Producer Price Index. However, it should be noted that currently the euro is more influenced by political factors than economic statistics. The single greatest risk for the euro area comes from the French presidential elections.
Today’s dynamics will depend on Eurozone Retail Sales data at 9:00 GMT.

Resistance: 118,080, 118,493, 119,010
Support: 117,487, 117,083, 116,740

 

Stock Market

Tesla (TSLA)

20170404_Tesla

Yesterday, Tesla has published its operating results for the first quarter of this year. During the reporting period, the company delivered about 25K cars, which is 69% higher than the same period in 2016. Meanwhile, this indicator does not take into account cars that have already been shipped, but have not yet reached their destination. According to analysts, in the near future, the company’s shares may rise by at least 5-6%.

Resistance: 300,00, 302,55, 305,16
Support: 286,99, 283,48, 280,50

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Commodities

Brent Oil Futures

20170404_BrentOil

Oil fell slightly yesterday. This was due to the renewal of oil supplies from Libya. In addition, according to the service company Baker Hughes, the number of operating drilling rigs in the US rose again last week by 10 units. This indicates increased activity in the US oil industry, which could lead to an imbalance in the world oil market. Meanwhile, some support was provided by data on a significant increase in demand for oil from Asian countries. Today’s the dynamics of mining may be influenced by the publication of data on stocks in the US, which will be presented at 20:30 (GMT).

Resistance: 53,25, 53,75, 54,20
Support:52,30, 51,87, 51,38

Posted on

Daily Market Review – 03/04/2017

US Economic Statistics will Dictate the Markets Today

 

Forex

EUR/USD

20170403_EURUSD

During the first half of Friday’s mining session the pair partially recovered some of the losses it incurred during the week. However, Friday’s worse than expected consumer inflation data put more pressure on the pair. Additionally, the same time, personal incomes and expenditures in the US increased slightly.

Today the Eurozone Final Manufacturing PMI at 9:00 GMT and the US ISM PMI at 14:00 GMT will impact the pair’s dynamics.

Resistance: 1,07020, 1,07379, 1,07674
Support: 1,06514, 1,06308, 1,06072

AUD/USD

20170403_AUDUSD

The US dollar strengthened strongly against its Australian counterpart on Friday, thanks to solid US economic statistics. Additionally, the AUD was negatively impacted by negative commodity market dynamics.

Tomorrow at 4:30 GMT the Reserve Bank of Australia will announce their interest rate. According to leading analysts, no changes are expected. Currently the interest rate 1.5%, a record low. No matter what occurs the announcement should at least temporarily move the pair.

Resistance: 0,76223, 0,76375, 0,76507
Support: 0,75964, 0,75873, 0,75799

 

Stock Market

Apple (AAPL)

20170403_Apple

Shares of Apple, the most valuable company in the world, rose by 24% during the first Q1 of fiscal 2017, the best quarter in five years. Its market capitalization gained a whopping $146 billion, bumping up Apple’s overall value to $750 billion. Apple’s new iPhone was the catalyst. Interestingly enough some analysts believe investors should buy shares despite the high prices. Most investment analysts are pricing it at $150 a share.

Resistance: 144,42, 145,10, 145,82
Support: 143,00, 142,31, 141,54

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Commodities

GOLD

20170403_Gold

The precious metal increased slightly on Friday, facilitated by a drop in the US dollar and general political uncertainty. However, most analysts believe that the USD will start strengthening, which will cause gold to fall. Today’s mining dynamics will depend on various statements from US Federal Reserve members, scheduled for the second half of the day.

Resistance: 1250,65, 1254,66, 1258,37
Support: 1244,30, 1241,05, 1236,95

Posted on

Daily Market Review – 30/03/2017

US economic news will move the markets today.

 

Forex

USD/JPY

USDJPY

The US dollar continues to gain strength thanks to comments from Fed officials. Yesterday during the speeches there was talk concerning the possibility of further interest rate increases assuming the US economy continue to strengthen.

Today at 12:30 GMT both the US GDP Q4 2016 and the weekly US unemployment claims report will be published important.

At 23:30 GMT, Japanese unemployment and household spending will be presented, followed Japan’s industrial production report at 23:50 GMT.

Resistance: 111.483, 112.076, 112.566
Support: 110.720, 110.258, 109.810

 

GBP/USD

GBPUSD

Yesterday, the pound declined heavily as the Brexit officially commenced. Britian has two years to complete its EU withdrawal and Eurozone officials hope that it will be a painless process for both sides.

Today’s speech from US Fed official Robert Kaplan will impact the pair along with the US GDP for Q4 2016.

Resistance: 1.24766, 1.25309, 1.25951
Support: 1.23969, 1.23488, 1.23089

 

Stocks

FTSE Futures

FTSE

The official start of the Brexit dominated the market dynamics yesterday.

Aside from Brexit news, today’s mining will depend on EU economic statistics. Eurozone Business and Consumer Survey, scheduled for 9:00 GMT, followed by German consumer inflation data, scheduled for 12:00 GMT will impact the FTSE 100.

Resistance: 7315.34, 7332.05, 7347.45
Support: 7278.31, 7265.21, 7249.81

 

Commodities

Brent Oil Futures

BrentOil

Oil prices grew by almost 2% as data on oil stocks from US Department of Energy oil stocks grew.

Additionally, oil prices further increased after a report surfaced from Libya that hostilities resumed. Furthermore, expectations that OPEC members will extend their oil reduction agreement for another six months helped push up prices.

Today’s dynamics will depend general news impacting the market US dollar fluctuations.

Resistance: 52.65, 53.00, 53.40
Support: 51.87, 51.39, 51.05

Posted on

Daily Market Review – 29/03/2017

The Brexit will move the markets the most today

 

Forex

EUR/USD

EURUSD

The euro fell significantly against the US dollar yesterday thanks to a slew of better than expected US economic statistics. US housing prices grew and hit a three-year high. Additionally, the US CB Consumer Confidence reached its highest level in 16 years. Furthermore, FOMC member Robert Kaplan’s statement concerning the US interest rates provided extra support for the USD.

Today many analysts believe the dollar will continue to fall against the dollar.

Resistance: 1.08330, 1.08683, 1.09060
Support: 1.07904, 1.07601, 1.07250

 

GBP/JPY

GBPJPY

Yesterday, the British currency fell against most of the major currencies as the Brexit is about to start.

Today thus far the pound is plummeting against all of the major currencies, including the Japanese yen thanks British Prime Minister Theresa May signing the letter that will trigger Article 50, the start of the Brexit.

Resistance: 138.043, 138.513, 138.888
Support: 137.587, 137.000, 136.419

 

Stocks

Amazon.com Inc (AMZN)

Amazon

US internet retailing giant Amazon says it has reached an agreement to acquire the Arab world’s leading online shopping website, Souq.com. The deal is expected to be finalized by the end of this year. Amazon’s shares grew by 1.08% yesterday.

Resistance: 862.48, 864.74, 867.37
Support: 851.28, 548.35, 846.05

 

Commodities

GOLD

Gold

Gold started to fall yesterday after growing somewhat thanks to better than expected US economic statistics.

Today’s dynamics will primarily depend on the US dollar. However, the start of the Brexit may increase demand for the precious metal.

Resistance: 1256.00, 1261.06, 1267.00
Support: 1247.32, 1242.41, 1235.60

Posted on

Daily Market Review – 28/03/2017

The Fed will move the markets the most today

 

Forex

USD/JPY

USDJPY

The pair started the week on the downside as investors decided to evade risks. However, traders started to buy the US dollar again after US economic statistics were published.

Today at 14:00 GMT, feature the US CB Consumer Confidence index, followed by Fed representative Robert Kaplan’s speech at 16:50 GMT.

Resistance: 111.000, 111.469, 111.940
Support: 110.100, 109.750, 109.340

 

GBP/USD

GBPUSD

The pair grew yesterday as the US dollar weakened thanks to uncertainty regarding Donald Trump’s reforms. However, the pound is under pressure as Teresa May will announce the official start of the Brexit tomorrow. Within two days, EU representatives will respond to the British Prime Minister’s letter and start the time and planning of the negotiations.

The Brexit has the potential to severely hurt the pound in the short and long term as it is unprofitable for companies and countries to invest in an economy and country that exits the Eurozone.

Resistance: 1.26158, 1.26578, 1.27042
Support: 1.25270, 1.24913, 1.24380

 

Stocks

S&P500 Futures

SP500

Most main stock indexes closed yesterday’s session with mixed dynamics thanks to Donald Trump’s reform failure. However, investors did not actively dump US stocks, which was why the fall was short-lived.

Today, investors will pay a lot of attention to a statement from Fed official Robert Kaplan.

Resistance: 2348.40, 2355.67, 2365.31
Support: 2332.13, 2325.54, 2317.57

 

Commodities

Brent Oil Futures

BrentOil

Oil prices fell during yesterday’s mining session as it seems that there is serious doubt that an extension to limit oil production for the second half of the year will be agreed upon.

This weekend representatives of the monitoring committee for the implementation of the agreement met. Investors expect that at the end of April the committee will give its recommendations to the OPEC cartel in terms of the expediency of the extension.

Today data on oil stocks from API will impact the market.

Resistance: 51.05, 51.60, 52.20
Support: 50.25, 49.70, 49.30

Posted on

Daily Market Review – 27/03/2017

US healthcare reform’s failure pushed the USD down. Will it continue?

 

Forex

EUR/USD

EURUSD

The pair grew last Friday thanks to positive Eurozone economic statistics with the Eurozone, French and German Manufacturing and Services PMIs growing more than expected In the US, the Manufacturing PMI declined unexpectedly.

Along with this, the main news was Trump’s healthcare failure. So now traders doubt about Trump’s ability to fulfill his campaign promises. Most attention will be focused on the tax reform.

Today traders will pay a lot of attention to data from German IFO Institute, scheduled for 08:00 (GMT).

Resistance: 1.08724, 1.09072, 1.09345
Support: 1.08175, 1.07807, 1.07455

 

USD/RUB

USDRUB

The Bank of Russia lowered interest rates from 10.0 to 9.75% last Friday, which provided key support for the Russian currency. The decision of the Russian regulator was caused by a sharp drop of inflation. Tax period also provided strong support for RUB.

Today, the dynamics of the pair will depend on oil prices. The US Fed statement will additionally impact the pair.

Resistance: 56.90452, 57.16375, 57.40447
Support: 56.49459, 56.27074, 56.03230

 

Stocks

Rosneft (ROSN)

Rosneft

Rosneft, the largest Russian state-owned oil producer will publish its financial report for Q4 2016. Analysts believe that its earnings per share is projected to be 16.24 rubles, with its total revenue at 82.560.00 billion rubles. If expectations are met oil prices may rise.

Resistance: 326.79, 334.03, 340.24
Support: 309.71, 303.51, 296.52

 

Commodities

GOLD

Gold

Gold grew last Friday after the US currency fell. Today’s dynamics will depend on the behavior of traders. US Fed representatives will additionally impact the dynamics of the precious metal.

Resistance: 1263.69, 1268.62, 1274.10
Support: 1251.22, 1242.41, 1235.60

Posted on

DAILY MARKET REVIEW — 23/03/2017

Will London’s terror attack impact the markets today? 

 

Forex

GBP/USD

GBPUSD

The pair declined after yesterday’s terrorist attack by the British Parliament in Westminster. However, the pound recovered some of its lost positions.

So far the UK Retail Sales came out better than expected causing the pair to increase significantly. Currently the GBP/USD is listed at 1.2511, up 0.21%.

Resistance: 1.25350, 1.25680, 1.26100
Support: 1.24355, 1.23750, 1.23090

 

USD/JPY

USDJPY

Despite positive US economic data the pair still fell as traders continued to avoid risks for the third day in a row. Political uncertainty in Europe, Trump’s policy directives and North Korea nuclear program are just some of the reasons why traders are turning towards the JPY.

Today’s US labor market data followed by a speech from US Fed Chair Janet Yellen, scheduled for 12:30 and 12:45 GMT respectively will impact pair.

Resistance: 111.583, 111.940, 112.263
Support: 110.730, 110.380, 110.000

 

Stocks

FTSE Futures

FTSE

Most European stock indexes including the FTSE 100 finished yesterday’s session in the red thanks to ever growing concern pertaining to Donald Trump’s economic reform. Additionally, yesterday’s terrorist act in London negatively impacted the market.

Today political news from both the US and Europe will influence the markets.

Resistance: 7267.27, 7289.33, 7303.81
Support: 7228.09, 7209.33, 7191.88

 

Commodities

Brent Oil Futures

BrentOil

Quotations of “black gold” updated the minimum values for the past four months yesterday. This was due to the growth of oil reserves in the US to new record values. This situation affects the mood of investors who doubt the effectiveness of OPEC’s deal to reduce production. Meanwhile, against the background of profit-taking, the price of oil rebounded from the achieved values. At the same time, the pressure on oil will continue, at least until the publication of data on the number of operating drilling rigs in the United States.

Resistance: 51.05, 51.60, 52.20
Support: 50.25, 49.70, 49.30

Posted on

DAILY MARKET REVIEW — 22/03/2017

Stock market fell thanks to Trump’s policies. Will it happen again today?

 

Forex

EUR/USD

EURUSD

The pair grew stronger yesterday thanks to political news emanating from France. Polls showed that most French citizens will vote for Emmanuel Macron after Marie Le Pen lost ground after a less than stellar debate. However, Fed official, Loretta J. Mester’s statement did prop up the USD.

Interestingly enough, a lack of congressional support for Donald Trump may keep the dollar under pressure. Today’s US Existing Home Sales data, scheduled for 14:00 GMT should impact the pair.

Resistance: 1.08285, 1.08500, 1.08724
Support: 1.07807, 1.07455, 1.07113

 

NZD/USD

NZDUSD

The pair traded in a narrow range during yesterday’s session. Despite a better than expected New Zealand GDT Price Index, the pair ultimately fell.

Tonight the Reserve Bank of New Zealand meeting, scheduled for 20:00 GMT should impact the pair. Analysts believe the bank will leave the rates unchanged at the 1.75% level.

Resistance: 0.70800, 0.71153, 0.71443
Support: 0.70162, 0.69808, 0.69483

 

Stocks

S&P500 Futures

SP500

Most US stock indexes fell by an average of 1.5 percentage points yesterday thanks to difficulties with new Trump’s reforms. During the election campaign, Trump promised global infrastructure reforms and tax cuts for corporations. Meanwhile, the reaction of stock exchanges is additionally because of a long overdue correction. Today negative dynamics may continue.

Resistance: 2342.86, 2347.54, 2353.30
Support: 2332.13, 2328.34, 2324.14

 

Commodities

GOLD

Gold

Gold rose yesterday as investors ran towards the precious metal in order to avoid risk. North Korea’s statement concerning its nuclear policy put additional pressure on riskier assets.

Today’s dynamics will depend entirely on the world’s political situation. Furthermore, today’s US economic statistics will provide an impact.

Resistance: 1250.61, 1257.10, 1263.70
Support: 1235.60, 1227.92, 1220.33

Posted on

DAILY MARKET REVIEW — 21/03/2017

Will the Brexit slow down the UK economy?

 

Forex

GBP/USD

GBPUSD

The British currency fell against most of the major currencies including the US dollar after British Prime Minister Theresa May said the UK is ready to start withdrawal processes on March 29. The Brexit has the potential to reduce investment in the country’s economy. Additionally, yesterday’s statement from a Fed official put further pressure on the pair.

Today starting at 9:30 GMT will feature UK inflation data, followed by a speech from Bank of England Governor Mark Carney at 10:00 GMT.

Resistance: 1.24359, 1.24708, 1.25090
Support: 1.23090, 1.22525, 1.22087

 

AUD/USD

AUDUSD

The pair traded in a narrow range yesterday despite the statement from a US Fed official.

Today thus far the pair fell thank to the Reserve Bank of Australia Meeting Minutes’ publication. The high cost of the Australian dollar, which has the potential hurt the country’s economic recovery.

Resistance: 0.77387, 0.77706, 0.77955
Support: 0.76630, 0.76372, 0.76060

 

Stocks

FedEx Corporation (FDX)

FedEx

FedEx will publish its financial report after today’s session closes. According to leading analysts its earnings per share will reach $2.62 with total revenue at $12.8 billion. Its share price rose significantly after Donald Trump won the presidential election thanks to his promises to reduce corporate taxes.

Resistance: 193.80, 194.43, 195.28
Support: 192.40, 191.45, 190.76

 

Commodities

Brent Oil Futures

BrentOil

Oil came under significant pressure during yesterday’s mining session thanks to a noted increase in the number of drilling rigs in the United States.

Today, API oil reserve data, scheduled for 20:30 GMT will impact the market.

Resistance: 52.65, 53.00, 53.40
Support: 51.50, 51.20, 50.90

Posted on

DAILY MARKET REVIEW — 20/03/2017

Trump’s Speech is sure to move the markets

 

Forex

EUR/USD

EURUSD

The US dollar grew against the euro during Friday’s session for a few reasons. First off, the US Industrial Production and Michigan consumer expectations came out better than expected. Second, investors paid a lot of attention to the G20 economic summit where the US rejected the free trade statement.

Today German Bundesbank will publish its monthly report at 11:00 GMT. Later on today at 16:45 GMT, Bundesbank President Weidmann will speak, followed by the US Fed Evans, scheduled for 17:10.

However today most impactful event will be US President Donald Trump’s speech at 23:30 GMT.

Resistance: 1.07821, 1.08093, 1.08285
Support: 1.07374, 1.07113, 1.06731

 

 

GBP/JPY

GBPJPY

The British currency fell slightly against the yen last Friday as traders were worried about the start of the Brexit procedure. The pair did find support as the Bank of England decided to keep the rates unchanged.

Today, Andy Haldane, Chief Economist and the Executive Director of Monetary Analysis and Statistics at the Bank of England will speak. Additionally, UK inflation data will be published tomorrow.

 

Resistance: 140.040, 140.318, 140.609
Support: 139.150, 138.830, 138.491

 

Stocks

Nike (NKE)

Nike

Nike will publish its quarterly report tomorrow after session close. According to leading analysts its earnings per share will be $0.53, while total revenue should hit $8.47 billion.

Some analysts believe a high US dollar rate may ultimately become a problem for the world’s largest sports apparel company as its revenue may be impacted. In the short term its share value should gradually increase.

Resistance: 57.96, 58.40, 58.84
Support: 57.30, 57.00, 56.67

 

Commodities

GOLD

Gold

Friday’s mining volume was low. However gold has risen slightly over the past few weeks as the dollar weakened. Last week the Fed raise rates, but signaled that a further increase will be gradual. Additionally, traders paid a lot of attention to the G20 summit.

Today US economic statistics will impact market along with US president Donald Trump’s speech at 23:30 (GMT).

Resistance: 1236.72, 1243.78, 1250.61
Support: 1227.92, 1220.33, 1211.36

Posted on