{"id":97644,"date":"2016-11-02T07:09:12","date_gmt":"2016-11-02T11:09:12","guid":{"rendered":"http:\/\/countingpips.com\/?p=97644"},"modified":"2016-11-02T07:09:12","modified_gmt":"2016-11-02T11:09:12","slug":"morning-call-market-overview-for-02-11-2016","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/11\/morning-call-market-overview-for-02-11-2016\/","title":{"rendered":"Morning Call. Market Overview for 02.11.2016"},"content":{"rendered":"
November 2, 2016<\/div>
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Article By RoboForex.com<\/u><\/a><\/strong><\/p>\n

The Big Picture<\/h2>\n

US and European markets have failed to start the usually positive month of November with gains. The reasoning for this weakness being insecurity about the US election results. Candidate Donald Trump is seen as unpredictable and hence being a danger for Wall Street. At the end of last week, Wall Street had assumed a victory for Hillary Clinton, her lead has however all but melted away. Just ahead of the end of campaigning, the fight has become particularly dirty. The FBI aiding to strife by reopening Hillary Clinton\u00b4s email affair, where she illicitly used private email servers for government business. Additionally the FBI released records showing there her husband Bill Clinton pardoned the tax avoiding Trader Marc Rich. Marc Rich\u00b4s wife being a generous donated to the Democrats cause.<\/p>\n

DAX<\/h2>\n

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

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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

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USD \/ JPY<\/h2>\n

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

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Gold<\/h2>\n

Gold is in an upward trend<\/p>

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WTI Oil<\/h2>\n

WTI Oil is in a downward trend<\/p>\n

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Overnight:<\/h2>\n

German stocks initially started November on a firm footing, very good Chinese data giving a positive tone. This quickly faded as fear of the US election results overwhelmed. In addition to a weakening Wall Street, German stocks accelerated their down move, the DAX dropping by 1.3%. The only gaining stock was Bayer at +0.55%, Deutsche Bank was the highest loser, down 3.84%. The S&P 500 fell 0.68% on election jitters. Valeant Pharmaceuticals was the positive exception, rising 33.74% in response to a Wall Street Journal article about a sale of their medical arm. Asian markets are showing weakness. The USD weakens, Gold rises 0.27% whilst WTI Oil continues its downward trend.<\/p>\n

Economic Data:<\/h2>\n