Nov 16

FUNDAMENTAL ANALYSIS BY NSFX 16.11.2015

  • BY:
  • November, 16th, 2015 19:26 +00:00

Good evening,

In the FX market EurUsd is not far from its multiyear low 1.0456 and now is losing 82 pips at 1.0688 (-0.77%). UsdJpy gapped down on Sunday evening but recovered and now the rate is above last Friday high at 123.21 (+0.5%), up 61 pips. GbpUsd is losing 31 pips at 1.5207 (-0.21%). Both Kiwi dollar and Aussie dollar are retracing against the Greenback and tonight at 00:30 GMT the Reserve Bank of Australia will release its Meeting Minutes, an event the could bring AudUsd to test the medium term bullish trendline in area 0.7. Now the rate is trading at 0.7096 (-0.35%), down 24 pips.

US indices are near their intraday highs with the DJIA up 156.73 points at 17,401.97 (+0.91%) and the S&P is at 2,041.68 (+0.92%), up 18.64 points. Crude Oil is rallying 1.47$ at 42.21 $/barrel (+3.61%) because it started to price an increased geopolitical risk. Positive session for Gold as well even is off its intraday top 1,097.94. The commodity is trading at 1,083.28 $/oz (+0.17%).

Tomorrow the economic calendar will be rich of events and it will be important to test how European and US Indices will react to important economic data. Gold needs to stay above last week low otherwise it may test 1,000 $/oz and Crude Oil in case will consolidate today performance can develop a short term bullish wave.  The volatility of EurUsd should continue to rise after the rate developed a short term trading range.

(19:20 GMT)