Nov 17


  • BY:
  • novembre, 17th, 2015 20:57 +00:00

Good evening,

US indices after they spent most of the session in positive territory retraced and now the S&P500 is down 3.96 points at 2,049.23 (-0.19%).  In Europe the DAX rose 257.81 points to 10,971.04 (+2.41%).  A breakout above 11,050 should lift the index to 11,223, the 61.8% Fibonacci Retracement from its record high.  A disappointing ZEW Survey, from Eurozone and Germany as well dragged EurUsd below its yesterday low and the rate is down for the fourth consecutive session at 1.0646 (-0.38%), down 40 pips. GbpUsd is gaining 10 pips at 1.5212 (+0.07%) and UsdJpy is up 21 pips at 123.40 (+0.19%). UsdChf at 1.0145 (+0.47%) is very close to 1.0237, the level that the rate was trading when the SNB stopped market interventions.

Japan is again in recession and the Bank of Japan should continue to buy assets, with negative effect on the Yen but positive for the Nikkei. US CPI data matched the expectations, and volatility on FX did not spike.

Crude Oil is sliding 1.01$ to 40.73 $/barrel (-2.42%) and Gold is trading below last week lows, a bearish signal that can bring in a short time frame the commodity to test 1,000 $/oz. The shiny metal is trading at 1,070 $/oz (-1.26%), down 13.6$.

Tomorrow morning will be released the Swiss ZEW service, and will be useful to estimate the next move of the Swiss National Bank. At 18:00 GMT, the most important event of the day, the FOMC minutes, but before EIA Crude Oil Inventories should add volatility in Crude Oil.


(20:50 GMT)