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Monthly Market Snapshot - January 2017: Forex, Equities, Commodities

Posted by Akhilesh Ganti on Feb 1, 2017 3:00:00 AM

January 2017 - FX, Commodity & Global Equity performance metrics. Pivot points, Support, Resistance & Fibonacci retracement levels for currency pairs, relevant equity indices, US yields & commonly traded commodities offered by WorldWideMarkets. Oil (WTI), USDJPY, NZDUSD charts {updated month end}

FX Performance (Strongest to Weakest)
Strongest Weakest
NZD AUD JPY CAD CHF EUR GBP USD
Market Best Performer Worst Performer Comments
Forex NZDUSD USDJPY US Dollar ended the first month of 2017 on the defensive as the reality of Trump's policies doused the initial enthusiasm generated by his victory. As the USD surge abated, "Com-Dolls" (NZD, AUD, CAD) benefited due to their higher yield status while the Yen's strength, initially seen as a much needed retracement, appears to have gained added traction on the notion that the new administration would not take kindly to further unilateral dollar strength. The fate of the US unit might well be buffeted by the disparate forces of a protectionist rhetoric / policy of the Trump regime versus the FED's acceleration of the normalization process. Factor in international agendas and currency wars might be the theme for 2017 and beyond.
Equity Hang Seng EU Stoxx 50 Most of the major global equity markets continued their advance on the prospects that a Trump administration will be very pro-business.
Commodity Silver Natural Gas Crude Oil spent 2016 recovering from lows not seen since 2003 but ended January lower as the market awaits confirmation that OPEC's supply cut agreement is actually being implemented.
  • Market Dashboard [FX, Commodity & Global Equity performance metrics] 
    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)
  • Chart(s) of Interest_Weekly [source: Reuters] [Oil (WTI), USDJPY, NZDUSD] (click to enlarge)
    1. Oil (WTI)
    2. USDJPY
    3. NZDUSD

Topics: Pivot Points, Asian session, Monthly

 

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