{"id":97899,"date":"2016-11-08T07:01:06","date_gmt":"2016-11-08T12:01:06","guid":{"rendered":"http:\/\/countingpips.com\/?p=97899"},"modified":"2016-11-08T07:01:06","modified_gmt":"2016-11-08T12:01:06","slug":"morning-call-market-overview-for-08-11-2016","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/11\/morning-call-market-overview-for-08-11-2016\/","title":{"rendered":"Morning Call. Market Overview for 08.11.2016"},"content":{"rendered":"
November 8, 2016<\/div>
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Article By RoboForex.com<\/u><\/a><\/strong><\/p>\n

The Big Picture<\/h2>\n

The US election covers 6 time zones. Due to this, the polling stations on the west side close much later than those in the east. The citizens of Alaska and Hawaii will be the last to post their vote. The islanders can vote until 5am CET and those in Alaska until 6am CET. The first forecasts by TV stations are expected shortly after midnight. Washington\u00b4s residents can vote up to 2 am and New York, the hometown of the Clintons, up to 3am. As one of the most important states, California closes at 5am CET. The \u201e Swing-States\u201c will be decisive to the outcome of the election, these being Florida, North Carolina, Ohio and Pennsylvania. The winning candidate should be announced around 5am. In 2012, Barrack Obama was declared president at 5.15 am CET.<\/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 a short-term downward trend, major support is at 100.<\/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

International markets started the \u201cdecision week\u201c on a very firm footing. After Hilary Clinton was exonerated of further wrong doing in regard to her email affair, Asian markets firmed up markedly. The DAX ended the day up 1.93%. Largest gainers were in the financial sector, with Deutsche Bank and Commerzbank both gaining 5%. Surprisingly the German economy saw a slowdown in orders, increasing only 2.6% against the expected gain of 3.5%. This however has no influence on the DAX. US markets also trended firm, the S&P gaining 2.22%. Biotech stocks were favored; the sector index gained 3.68%. Asian markets are unchanged this morning. The USD, Gold and WTI Oil are unchanged. Investors await the outcome of the elections.<\/p>\n

Economic Data:<\/h2>\n

08:00 Germany: Industrial Production<\/p>\n

Quarterly Results:<\/h2>\n