August 23, 2014 (Weeky)- Pivot points, Support & Resistance levels for Equity Indices, Commodities, Dollar Index and currency pairs offered by WorldWideMarkets online FOREX trading and USD, Equity Indices & Commodity weekly performance chart.
|Market||Best Performer||Worst Performer||Comments|
|Forex||USDJPY||EURUSD||US Dollar rose sharply across the board on a perceived shift in bias in the July FOMC Minutes which showed the board mutating from being predominantly dovish to one where the hawks are beginning to emerge. This fueled the possibility that rate hikes might happen sooner than had been priced in so far and provided the impetus for the Dollar rally. Euro weakened -vs- the dollar as traders focused on the divergent monetary policies.|
|Equity||DAX 30||China H Shares||German stocks led a rise in most global indices as diminishing geopolitical tensions and robust earnings provided the spark. European stocks rose as investors speculated that the raft of weak economic data will compel ECB to implement QE. A weaker than expected HSBC Flash manufacturing PMI release fueled further declines in Chinese stocks.|
|Commodity||Natural Gas||US Crude Oil (WTI)||Natural gas fell initially on bearish inventory data only to rebound later in the day as investors bet that temperatures will revert to their summer norms. Gold lost a bit of its' lustre, falling to 2-month lows as prospects for higher US rates saw its' alternative investment appeal diminish. US Crude oil fell for the fifth consecutive week on waning demand concerns.|
A technical analysis indicator used to try and determine the short-term trend of the market. The pivot point is the average of the high, low and closing prices from the previous trading day. If the market in the following week trades above the pivot point it is thought to be exhibiting bullish sentiment, whereas trading below the pivot point is seen as bearish.
(click to enlarge)
Equity Indices, Commodities & USD -vs- Majors Weekly performance
(click to enlarge)