Daily Morning Report & Daily Technical Levels 16/11/2015

Daily Morning Report 16.11.2015

The yen gained on Monday after disappointing GDP data that highlighted the lack of price pressure in an economy awash with liquidity. USD/JPY changed hands at 123.37, down 0.19%, after quarter-on-quarter third-quarter GDP fell 0.2%, compared to an expected 0.1% drop, while the year-on-year pace slumped 0.8%, compared to a 0.2% drop seen. Earlier in New Zealand, retail sales quarter-on-quarter in the third quarter rose 1.6%, beating an expected 1.3% gain. NZD/USD traded at 0.6529, down 0.15% after the data. AUD/USD changed hands at 0.7104, down 0.36%. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.43% to 98.31. In the week ahead, investors will be turning their attention to Wednesday’s minutes of the Fed’s latest policy meeting for fresh indications on the prospects of a December rate hike. A bank of Japan monetary policy announcement will also be in focus. On Monday, the eurozone is to publish revised data on consumer inflation. European Central Bank President Mario Draghi is to speak at an event in Madrid. Canada is to publish data on manufacturing sales and foreign investment. The U.S. is to release data on manufacturing activity in the New York region. Last week, the dollar rose against the other major currencies on Friday as expectations that the Federal Reserve will raise U.S. interest rates next month continued to underpin investor demand for the greenback. The dollar shrugged off reports showing that U.S. retail sales rose less than expected in October, while producer prices fell. The Commerce Department said retail sales edged up just 0.1% last month after remaining flat in the preceding two months. Separately, the Labor Department said the producer price index fell 0.4% last month after a 0.5% decline in September. The data was not seen as likely to deter the Fed from hiking rates in December in the wake of the robust U.S. jobs report for October. Another report showed that U.S. consumer sentiment improved this month. The University of Michigan said its consumer sentiment index rose to 93.1 from a reading of 90.0 in October. The dollar remained broadly supported after Fed Vice-Chair Stanley Fischer said Thursday that it “may be appropriate” for the Fed to begin raising rates next month.

 

16.11.2015 – 07:10 GMT+2

Daily Technical Levels

EUR/USD

GBP/USD

USD/JPY

AUD/USD

USD/CAD

USD/CHF

R3:

1,0794

1,5286

123,23

0,7189

1,3391

1,0149

R2:

1,0759

1,5251

122,88

0,7154

1,3356

1,0114

R1:

1,0734

1,5226

122,63

0,7129

1,3331

1,0089

S1:

1,0704

1,5196

122,33

0,7099

1,3301

1,0059

S2:

1,0679

1,5171

122,08

0,7074

1,3276

1,0034

S3:

1,0644

1,5136

121,73

0,7039

1,3241

0,9999