{"id":98673,"date":"2016-11-24T07:03:34","date_gmt":"2016-11-24T12:03:34","guid":{"rendered":"http:\/\/countingpips.com\/?p=98673"},"modified":"2016-11-24T07:03:34","modified_gmt":"2016-11-24T12:03:34","slug":"morning-call-market-overview-for-24-11-2016","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/11\/morning-call-market-overview-for-24-11-2016\/","title":{"rendered":"Morning Call. Market Overview for 24.11.2016"},"content":{"rendered":"
November 24, 2016<\/div>
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Article By RoboForex.com<\/u><\/a><\/strong><\/p>\n

The Big Picture<\/h2>\n

Yesterday saw the release of November\u00b4s Fed protocol. It contained a clear signal by the central bank that an interest rate increase will take place December. Most committee members argued that a hike would be justified in light of current economic conditions. Some warned of overheating of the job market. Previously turbulent market events, such as the Brexit, were taken as a reason not to adjust rates. The last Fed meeting took place prior to the US elections, instead of large losses expected by experts in light of a Trump win, the markets continually rose. This reason so not being valid to postpone action. The Fed desires credibility. US markets rose after the announcement, as the outcome was largely expected.<\/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 downward trend.<\/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 has broken support at 1200 and is in a downward trend<\/p>

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WTI Oil<\/h2>\n

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

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Overnight:<\/h2>\n

We are currently in two-market world. US stocks climb from high to the next, whilst the DAX stagnates at best. After intermittent strong losses, the DAX closed down -0.48%. The weakest stock in the DAX was Continental, dropping 2.24%, Infineon on the other hand rose 2.41% after announcing good numbers. The USD continues to strengthen. In expectation of December\u00b4s Fed rate rise, the currency gained 0.7% against the Euro and 1.24% against the Yen. The yield differential speaks for further strength in the USD. Trade on Wall Street was quiet ahead of Thanksgiving. The Fed\u00b4s notes gave no surprises. The S&P gained 0.08%. The Nikkei 225 rises on Yen weakness, Gold and WTI Oil are unchanged.<\/p>\n

Economic Data:<\/h2>\n