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Daily Market Snapshot - August 10, 2016: Forex, Equities, Commodities

Posted by Akhilesh Ganti on Aug 10, 2016 8:07:48 PM

August 11, 2016 - FX Strength, Pivot points, Support, Resistance & Fibonacci retracement levels for Currency pairs, Dollar Index, Global Stock Indices & Commodities offered by WorldWideMarkets. {updated at 00:00:00 UTC}

[Excerpt from RBNZ statement after they CUT OCR to 2.0%: "Weak global conditions and low interest rates relative to New Zealand are placing upward pressure on the New Zealand dollar exchange rate. The trade-weighted exchange rate is significantly higher than assumed in the June Statement. The high exchange rate is adding further pressure to the export and import-competing sectors and, together with low global inflation, is causing negative inflation in the tradables sector. This makes it difficult for the Bank to meet its inflation objective. A decline in the exchange rate is needed." Kiwi shot up about 140 pips immediately following the announcement. RBNZ might be forced to intervene to keep the currency from appreciating!]

FX Performance (Strongest to Weakest)
Strongest Weakest
NZD CHF JPY EUR CAD AUD GBP USD
Market Best Performer Worst Performer
Forex NZDUSD AUDNZD
Equity United Kingdom India
Commodity Silver US Crude Oil (WTI)
  • Pivot Points & Fibonacci Retracements
    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 period. If the market on the following period trades above the pivot point it is thought to be exhibiting bullish sentiment, whereas trading below the pivot point is seen as bearish. The Fibonacci retracement is the potential reversal of a financial instrument's original move in price.(click to enlarge)
  • Global Stock Indices, Commodities & USD -vs- Majors performance (click to enlarge)

Topics: Pivot Points, Asian session

 

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