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Daily Market Review — 22/02/2016

Daily Market Review — 22/02/2016

Forex

EUR/USD

EURUSD

At the Friday’s session, the pair showed mixed trends. This was caused by the publication of statistics on producer price index in Germany, which were worse than forecasts of experts. But the US consumer price index showed modest growth, and put some pressure on the pair. However, in the second half of the trading day the euro won back lost positions against its use as a funding currency after oil quotations started to fall. The current dynamics of pair will depend upon the publication Manufacturing and Service PMIs in France, Germany and the Eurozone, which will be presented during the day.

Resistance: 1,1160, 1,1247, 1,1337
Support: 1,1070, 1,0969, 1,0902

USD/JPY

USDJPY

During Friday’s trading day, the Japanese currency continued to strengthen against the US dollar on the back of falling oil prices. Let us remind, investors often use the Japanese currency as a safe asset. New week, the pair opened with growth after the publication of Japan Manufacturing PMI which was at 50.2, well below then in previous period − 52.3.Today, the dynamics of the pair may be affected by the publication of U.S. Manufacturing PMI at 14:45 (GMT).

Resistance: 113.54, 114.41, 115.93
Support: 112.27, 111.23, 110.12

 

Stock Market

S&P500 Futures

SP500

Major US markets showed a weak downward trend at Friday’s sessions, which was due to oil prices continue to fall. Also important were the data on the consumer price index in the United States, which recorded modest growth January. Meanwhile, the prices of oil are still in focus, especially after the hopes of reducing production by the major oil-producing countries greatly weakened. Today’s dynamics will be entirely dependent on the situation on global stock markets and commodity markets.

Resistance: 1932.13, 1946.26, 1964.02
Support: 1909.38, 1890.21, 1965.01

 

Commodities

Light Sweet Crude Oil Futures

CrudeOil

At the Friday’s session quotes of “black gold” back to fall against the backdrop of a significant oversupply of oil on world markets. However, investors still believe that there is a possibility of reducing the production of oil. But even hope for a positive solution almost came to an end, oil prices show an upward trend. Today, the dynamics of trade will depend on the mood of investors.

Resistance: 32.92, 33.57, 34.14
Support: 31.46, 30.76, 29.93