Market News
Market News
17-21 June: An action packed week ahead. Plenty of data, starting with today’s PMI’s, ISM. NFP-Friday.
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Aud, Nzd a bit higher after the w/e China Mfg PMI. Watch the Nikkei & Yen again for clues to direction. US Yields higher. Stocks headed lower?
A late move lower in equities was Fridays highlight after the dollar had strengthened mildly on the better than expected US data, that the market perceived as an an excuse for the Fed to think about winding back the QE programme. This week will be a big one, with a heavy round of data, beginning today with the Manufacturing PMI’s and ending on Friday with the US Jobs/ NFP and with the RBA, ECB and BOE IR decisions in between. Kiwi holiday today.
Read the full FXCharts Weekly Outlook here or scan the market summary below.
| CURRENCIES | |||||
| EUR/USD: 1.3345 | Outlook | ||||
| Res | 1.3390 | 1.3435 | 1.3450 | The Euro had a relatively quiet finish to the week, although the price action was choppy, with the dollar mildly firmer …read more | |
| Sup | 1.3285 | 1.3250 | 1.3160 | ||
| USD/JPY: 94.10 | Outlook | ||||
| Res | 00.00 | 00.00 | 00.00 | The dollar finished lower on Friday after another volatile session …read more | |
| Sup | 93.65 | 93.00 | 92.50 | ||
| GBP/USD: 1.5705 | Outlook | ||||
| Res | 1.5735 | 1.5760 | 1.5790 | Cable had a volatile session on Friday, falling sharply from 1.5710 to 1.5615 and then bouncing to close at 1.5705, right on the 200 DMA…read more | |
| Sup | 1.5670 | 1.5635 | 1.5605 | ||
| USD/CHF: 0.9210 | Outlook | ||||
| Res | 0.9240 | 0.9285 | 0.9300 | Having made a midweek low at 0.9129, the dollar has bounced to close the week on the 76.4% Fibo support of 0.9108/0.9838 at 0.9210. …read more | |
| Sup | 0.9190 | 0.9130 | 0.9100 | ||
| AUD/USD: 0.9570 | Outlook | ||||
| Res | 0.9600 | 0.9620 | 0.9665 | The Aud is attempting to pick itself up off the floor but is finding it hard to make any headway above 0.9600 …read more | |
| Sup | 0.9565 | 0.9535 | 0.9500 | ||
| NZD/USD: 0.8050 | Outlook | ||||
| Res | 0.8100 | 0.8135 | 0.8160 | As with the Aud, the Kiwi has made a good bounce off its 0.7759 lows and now sits more happily back above 0.8000 having traded up to as high as 0.8136 in Fridays session..read more | |
| Sup | 0.8035 | 0.8000 | 0.7950 | ||
| Commodities / Indices | |||||
| ASX SPI: 4760 | Outlook | ||||
| Res | 4780 | 4805 | 4820 | The SPI has recovered from its mid week low ad looks as though it could chop around from a few days above 4700 to allow the daily charts the chance to unwind …read more | |
| Sup | 4740 | 4720 | 4700 | ||
| S+P Futs: 1624 | Outlook | ||||
| Res | 1640 | 1650 | 1660 | The S+P finished the week a bit lower but really it is trading sideways in a choppy 1600/40 range and this looks set to continue, at least until the FOMC on Wednesday. …read more | |
| Sup | 1620 | 1610 | 1600 | ||
| DJI Futs: 15055 | Outlook | ||||
| Res | 15100 | 15200 | 15300 | The Dow is in the same boat as the S+P and for the time being it would appear that it is going to hang close to 15000. The dailies are pointing a bit lower and I prefer to sell into strength, with a SL placed just above 15200….read more | |
| Sup | 15000 | 14950 | 14850 | ||
| GOLD: 1390 | Outlook | ||||
| Res | 1400 | 1410 | 1420 | Gold is pretty boring at present and seems pretty happy near 1400 although this may well change on Wednesday once it becomes a little clearer as to what the Fed will do …read more | |
| Sup | 1380 | 1370 | 1360 | ||
| SILVER: 22.10 | Outlook | ||||
| Res | 22.20 | 22.50 | 22.75 | Silver had a very brief spike from 21.70 to 22.50 and equally quickly reversed to 22.00 where it spent the rest of the session on Friday…read more | |
| Sup | 21.75 | 21.50 | 21.20 | ||
| OIL(WTI): 97.80 | Outlook | ||||
| Res | 98.20 | 99.00 | 100.00 | WTI reached the 98.20 resistance on Friday from where it has so far backed off a little but I suspect that it may be building for a move to higher ground read more | |
| Sup | 96.40 | 95.50 | 94.50 | ||
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