| 05 January 2016, Time of Writing: 09:00 am | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Daily Market Update | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Vol.: Volatility; Prev.: Previous; Cons.: Consensus | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Latest News | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The beginning of trading in 2015 started in full blown risk-off mode as Chinese shares were halted yesterday morning after plunging by 7%, Sweden’s Riksbank held an extraordinary meeting where it decided to intervene in the FX markets in order to protect the country against rising inflation, and several Gulf States introduced measures against Iran, including flight bans and cutting diplomatic ties, in retaliation to Saudi Arabia’s embassy being attacked in Teheran. Oil prices appreciated considerably at one point yesterday, rising by 3%, while USDJPY dropped below 119 temporarily, as investors began factoring in a geopolitical risk premium into financial markets. This morning saw Chinese shares close mixed, following PBOC’s announcement that it will inject a further $20B into the stock market. Elsewhere, manufacturing data out of the US continued to disappoint yesterday, contracting by a second consecutive month at 48.2 and missing estimates of 49.1. Today’s economic releases remain on the light side, in the build up to Friday’s US jobs report. Spain and Germany will release employment data in addition to the UK’s construction figures. The most important release during the morning session will come in the form of European inflation data, which is forecasted to have improved slightly to 0.4% from 0.2% on a year-on-year basis. NZD traders should also be on the lookout for the dairy auction today. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Daily Technical Analysis | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Daily Technical Analysis is conducted using a proprietary technology based on advanced methods of time-series analysis and custom build technical indicators. Detailed quantitative analysis of the market state on different timeframes let us accurately evaluate current Trend and Momentum. Going further we deduce the daily target from the multiple factors such as long and short term momentum, different volatility measures, mode of market behaviour and other characteristics. For a ranged market we will show a range instead of a single number. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Daily Forecasts | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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*spot prices as of 07:00 GMT Daily Forecasts consists of both technical and fundamental analysis as well as a review of open sources from major forex contributors. The forecasts give investors a projection on individual currencies. //--- SEE ALSO: |
