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11 November 2016, 12:13

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Friday, November 11th


Taking into account that D.Trump is the next president of the US many news agencies have already started to digest upcoming impact of the changes related to D.Trump’s political views. In the long-term perspective Trump’s policy is broadly supporting US currency as upcoming business and personal tax cuts should attract fresh injections in the US economy. Moreover, D.Trump’s changes in taxation system should trigger boost of the economic growth and US currency’s in particular that also will impact the FX market. However, developments around the upcoming changes remain uncertain, but hopefully D.Trump’s  actions in a next few weeks will bring more clarity on this measure.


The pound remains one of the best performers after crucial events from US side. The GBP/USD pair continues to drive in north direction gaining more than two cents since the announcement of the final results from US presidential election. The main driver for pair remains ongoing risk appetite seen over the past three sessions. For today UK’s data calendar remains empty while the US economy will provide the market with only secondary reports, so the pair will remain following global markets sentiment during this Friday.


Today the Aussie bounces-off its post-election lows and breaks through the resistance marked at 0.76. Aussie’s rebound is majorly supported by strong growth in copper prices. The changes spoken from D.Trump’s election platform have significantly influenced the most of commodities as  now investors prepare for a possible boom in infrastructure projects under Trump’s presidency.


The main events of the day:

FOMC Member S.Fischer’s Speech – 17.00 (GMT +2)

Michigan Consumer Expectations– 18.00 (GMT +2)

BoC Governor S.Poloz’s Speech – 18.50 (GMT +2)


Support and resistance levels for the major currency pairs

EURUSD        S. 1.0814 R. 1.0992

USDJPY         S. 104.22 R. 108.22

GBPUSD        S. 1.2298 R. 1.2712

USDCHF        S. 0.9785 R. 0.9937

AUDUSD       S. 0.7466 R. 0.7814

NZDUSD       S. 0.7101 R. 0.7361

USDCAD       S. 1.3332 R. 1.3576


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