Daily News & Forecast,  Wednesday, January 11, 2017

2017-01-11 03:04:30
 

 

HIGH IMPACT NEWS RELEASES:

Far East: No Major Data

Europe: GB- Industrial & Manufacturing Output, Trade

North America: US- Mortgages, EIA Crude, Trump Presser

USD

  • U.S. stocks ended mixed on Tuesday as Nasdaq closed at a record high for a fourth session while the Dow Jones Industrial Average’s push toward 20,000 was again thwarted.
  • The S&P 500 index SPX, +0.00% ended at its flattest level in years, unchanged from Monday at 2,268.90. The broad-market gauge had been up by as many as 10 points earlier in the session. Five of the 11 main sectors closed lower, bookended by a 1.3% decline in the real-estate sector and a 0.4% gain in consumer-discretionary stocks.
  • The U.S. dollar ended mostly flat against its major rivals Tuesday as investors held off on drastically changing their positions a day ahead of Donald Trump’s scheduled news conference, which could provide clarity regarding the president-elect’s legislative agenda.

EUR

  • European stocks closed in positive territory Tuesday, shaking off nagging anxieties over the health of Italy’s banking system, which gave investors pause for much of the session.
  • The Stoxx Europe 600 index SXXP, +0.11% tipped 0.1% higher to finish at 364.07, snapping two days of down days for the benchmark.
  • The euro EURUSD, +0.0095% traded at $1.0560 from $1.0592 late Monday.

GBP

  • U.K. stocks marked their 11th consecutive gain on Tuesday, and a ninth record close in a row as the pound supported appetite for the shares of British multinational companies.
  • The FTSE 100 index UKX, +0.52% gained 0.5% to close at 7,275.47, building on 0.4% advance from Monday. The finish represented the U.K. benchmark’s longest string of record closes since FactSet began collecting data in 1986.
  • The pound GBPUSD, -0.0328% traded at break-even at $1.2167. The U.K. currency has been under heavy pressure of late — it is down 3.4% in January and 16.3% over the past 12 months.

JPY

  • Asian shares hit a bump on their 2017 dream run on Tuesday, hurt by doubts over a recent global oil curb deal, and apprehensions ahead of U.S. President-elect Donald Trump’s first news conference since his election victory.
  • The Nikkei Stock Average NIK, -0.79% reversed gains in afternoon trade, and was last down 0.7%.
  • The greenback USDJPY, +0.04% traded at ¥115.68 from ¥116.01 late Monday. It dropped to ¥115.20 in Asian trading before rebounding.

XAU

  • Gold prices were slightly higher in late U.S. trading Tuesday and did hit a six-week high during the session. An overnight dip in prices turned into a buying opportunity for bargain hunters when the U.S. day session got under way. Reports Tuesday said demand for physical gold from China is increasing ahead of the Chinese lunar new year. There has also been a pick-up in demand for gold-backed exchange-traded-funds early in 2017. The technical chart postures for gold and silver are also turning more bullish early this year. February Comex gold was last up $0.70 an ounce at $1,185.60. March Comex silver was last up $0.192 at $16.875 an ounce.

Major instruments:

EURUSD: The most likely scenario for the pair is going up to the nearest target of  1.0604.

1

EURJPY: The most likely scenario for the pair is going down to the nearest target of  121.86.

2

GBPUSD: The most likely scenario for the pair is going down to the nearest target of  1.2124.

3

GBPJPY: The most likely scenario for the pair is going down to the nearest target of  140.23.

4

USDJPY: The most likely scenario for the pair is going down to the nearest target of 115.18.

5

XAUUSD: The most likely scenario for the pair is going up to the nearest target of 1,188.5.

6

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