Daily Market Review Meetings between the United States and China will determine the direction of the markets Forex GBP/USD 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 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. Todays 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) 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 . Commodities Brent Oil Futures 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. Todays 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
Daily Market Review 03/04/2017 US Economic Statistics will Dictate the Markets Today Forex EUR/USD During the first half of Fridays mining session the pair partially recovered some of the losses it incurred during the week. However, Fridays 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 pairs dynamics. Resistance: 1,07020, 1,07379, 1,07674 Support: 1,06514, 1,06308, 1,06072 AUD/USD 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) 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 Apples overall value to $750 billion. Apples 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 . Commodities 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. Todays 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
Daily Market Review 30/03/2017 US economic news will move the markets today. Forex USD/JPY 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 Japans industrial production report at 23:50 GMT. Resistance: 111.483, 112.076, 112.566 Support: 110.720, 110.258, 109.810 GBP/USD 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. Todays 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 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 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. Todays 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
Daily Market Review 29/03/2017 The Brexit will move the markets the most today Forex EUR/USD 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 Kaplans 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 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) 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. Amazons shares grew by 1.08% yesterday. Resistance: 862.48, 864.74, 867.37 Support: 851.28, 548.35, 846.05 Commodities GOLD Gold started to fall yesterday after growing somewhat thanks to better than expected US economic statistics. Todays 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
Daily Market Review 28/03/2017 The Fed will move the markets the most today Forex USD/JPY 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 Kaplans speech at 16:50 GMT. Resistance: 111.000, 111.469, 111.940 Support: 110.100, 109.750, 109.340 GBP/USD The pair grew yesterday as the US dollar weakened thanks to uncertainty regarding Donald Trumps 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 Ministers 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 Most main stock indexes closed yesterday’s session with mixed dynamics thanks to Donald Trumps 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 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
Daily Market Review 27/03/2017 US healthcare reforms failure pushed the USD down. Will it continue? Forex EUR/USD 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 Trumps 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 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, 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 grew last Friday after the US currency fell. Todays 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
DAILY MARKET REVIEW 23/03/2017 Will London’s terror attack impact the markets today? Forex GBP/USD The pair declined after yesterdays 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 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, Trumps policy directives and North Korea nuclear program are just some of the reasons why traders are turning towards the JPY. Todays 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 Most European stock indexes including the FTSE 100 finished yesterday’s session in the red thanks to ever growing concern pertaining to Donald Trumps 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 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
DAILY MARKET REVIEW 22/03/2017 Stock market fell thanks to Trumps policies. Will it happen again today? Forex EUR/USD 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. Mesters statement did prop up the USD. Interestingly enough, a lack of congressional support for Donald Trump may keep the dollar under pressure. Todays 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 The pair traded in a narrow range during yesterdays 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 Most US stock indexes fell by an average of 1.5 percentage points yesterday thanks to difficulties with new Trumps 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 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. Todays dynamics will depend entirely on the worlds political situation. Furthermore, todays US economic statistics will provide an impact. Resistance: 1250.61, 1257.10, 1263.70 Support: 1235.60, 1227.92, 1220.33
DAILY MARKET REVIEW 21/03/2017 Will the Brexit slow down the UK economy? Forex GBP/USD 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 countrys economy. Additionally, yesterdays 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 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 countrys economic recovery. Resistance: 0.77387, 0.77706, 0.77955 Support: 0.76630, 0.76372, 0.76060 Stocks FedEx Corporation (FDX) FedEx will publish its financial report after todays 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 Oil came under significant pressure during yesterdays 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
DAILY MARKET REVIEW 20/03/2017 Trump’s Speech is sure to move the markets Forex EUR/USD The US dollar grew against the euro during Fridays 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 Trumps speech at 23:30 GMT. Resistance: 1.07821, 1.08093, 1.08285 Support: 1.07374, 1.07113, 1.06731 GBP/JPY 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 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 worlds 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 Fridays 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 Trumps speech at 23:30 (GMT). Resistance: 1236.72, 1243.78, 1250.61 Support: 1227.92, 1220.33, 1211.36