{"id":96772,"date":"2016-10-14T07:31:07","date_gmt":"2016-10-14T11:31:07","guid":{"rendered":"http:\/\/countingpips.com\/?p=96772"},"modified":"2016-10-14T07:31:07","modified_gmt":"2016-10-14T11:31:07","slug":"morning-call-market-overview-for-14-10-2016","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/10\/morning-call-market-overview-for-14-10-2016\/","title":{"rendered":"Morning Call. Market Overview for 14.10.2016"},"content":{"rendered":"
October 14, 2016<\/div>
\r\n<\/div><\/div>

Article By RoboForex.com<\/u><\/a><\/strong><\/p>\n

The Big Picture<\/h2>\n

The British Pound has resumed its downhill course, losing 17% against the USD since the start of the year. The largest losses were seen after the Brexit vote. Since deciding to leave the EU at the end of June, the Pound has lost 18.86%, much to the delight of tourist\u00b4s wallets. Established southern European countries are viewing this development with worry, as such the British air carrier Easyjet has announced a drop in passengers traveling to southern Europe. Naturally the weak Pound also puts pressure on German export industries, as the UK is a major trading partner. Hedge funds continue to bet on a further drop of the Pound, selling 95572 contracts. This amount is an all-time high.<\/p>\n

DAX<\/h2>\n

The DAX is in a sideways trend.\u00a0 Resistance is at 10820, support at 10250.<\/p>\n

\"\"<\/p>\n

Euro \/ USD<\/h2>\n

The Euro is in a large sideways trend against the Dollar. Support is at 1.0822, resistance at 1.1429.<\/p>\n

\"\"<\/p>\n

USD \/ JPY<\/h2>\n

The USD is in an upward trend.<\/p>\n

\"\"<\/p>\n

Gold<\/h2>\n

Gold is in a downward trend.<\/p>

\r\n
\r\n

Free Reports:<\/p><\/div>\r\n

\r\n

<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

\r\n
\r\n
\r\n

<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

\r\n<\/div>\r\n

\r\n
<\/div>\n

\"\"<\/p>\n

WTI Oil<\/h2>\n

WTI Oil is in an upward trend<\/p>\n

\"\"<\/p>\n

Overnight:<\/h2>\n

German stocks managed to trade up off their lows, yet still lost 1.04% on the day. Losing 4.08% , Commerzbank was the largest loser of the day. Vonovia rose 1.33% on the day. Weak trade balance data out of China gave rise to skepticism in regard to international growth and so put pressure on markets. Initial US Jobless\u00a0 Claims dropped, this had no effect on the market. Losses of the first half hour of trading were retraced, leaving the S%P 500 to close down 0.31%. In tech stocks the bio-tech sector saw a light rebound, closing at +0.37%. Asian markets are mainly higher. The USD gains on the Euro and Yen. Gold trades lighter and WTI Oil gains.<\/p>\n

Economic Data:<\/h2>\n