Article By RoboForex.com
The USD is supported against the Euro, Yen and British Pound by investor rate expectation. These investors are expecting the Fed to raise interest rates in December. This move, however, has been discussed very controversially by Fed members ahead of the last two meetings. Other large central banks are still following expansive monetary policy. The ECB´s head Draghi is looking to expand the bond buying program beyond March 2017. The Japanese central bank is looking to expand their loose monetary policy. The Yen has risen 15% against the USD this year, its strength damaging the Japanese export industry. The Bank of England will in response to damage caused by the Brexit, also look to stabilize the economy using expansive policy.
The DAX is in a sideways trend. Resistance is at 10820, support at 10250.
The Euro is in a large sideways trend against the Dollar. Support is at 1.0822, resistance at 1.1429.
The USD is in an upward trend.
Gold is in an upward trend
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WTI Oil is in a downward trend
German stocks managed to retrace losses on Wednesday. After having fallen 1% by the US open, the market managed to retrace and close down 0.44%. Largest loser in the DAX was Thyssen at -2.56%. On the winning side, Lufthansa continues to fly higher, gaining 1.74%. Sentiment on Wall Street was dampened by Apple´s results, the Nasdaq losing 0.63%. Akamai stocks rose 14.61%, the streaming tech company rising on better than expected quarterly results. Asian stock are weaker this morning and the USD trades up. Gold and WTI Oil are unchanged.
RoboForex Analytical Department
Article By RoboForex.com
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