FUNDAMENTAL ANALYSIS BY NSFX 06.01.2016
- BY:
- Gennaio, 06th, 2016 21:02 +00:00
Good evening,
US equities are off their intraday lows but both DJIA and S&P500 are losing around 1.5%. The slowdown in China is keeping low risk appetite in global indices and the Japanese Yen is gaining ground as a result of reversal carry trade strategies. Crude Oil made a fresh multiyear low: the commodity is trading at 33.94 $/barrel (-5.64%), and the panic selling is so strong that even geopolitical tension in middle east could not trigger a rally on the commodity. Gold is gaining 16.15$ at 1,093.9 $/oz (+1.5%), and the shiny metal is trading above both the 21SMA and the 55EMA. Area 1,100 can be reached soon considering that Gold is trading at 2 month high.
In the FX market EurUsd is trading near its intraday high at 1.0782 (+0.33%) and UsdJpy is trading at 118.41 (-0.48%). At 19:00 GMT was released the FOMC Minutes and it showed that all the 10 voting members decided to lift rates last month, even few members were not completely happy with a low inflation rate.
During the Asian session will be released the Australian Trade Balance at 00:30 GMT and then the European session will kick off with the Swiss Unemployment Rate at 06:45 GTM.
(20:45 GMT)