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Weekly Market Snapshot - January 16, 2016: Forex, Equities, Commodities

Posted by Akhilesh Ganti on Jan 15, 2016 9:30:38 PM

January 16, 2016 - (Weekly) FX Strength, Pivot points, Support, Resistance & Fibonacci retracement levels for Currency pairs, Dollar Index, Global Stock Indices & Commodities offered by WorldWideMarkets and a Chart of Interest. {updated end of week}

  • Currency Performance - Weekly(Strongest to Weakest)FX_Strength_011616.png
Market Best Performer Worst Performer Comments
Forex USDCAD CADJPY  Japanese Yen and US Dollar benefited as plummeting global equity markets gave rise to another bout of risk aversion. Euro also received a bid albeit for a different reason as investors who had been using the common currency as a funding vehicle to initiate carry trades rushed to unwind those positions. Commodity currencies (AUD, NZD, CAD) and the Great British Pound were the weeks' worst performing majors.
Equity United Kingdom China Global equity indices were all lower this week as Chinese issues continue to roil markets.
Commodity Silver Natural Gas Crude oil was down almost 10% again as the supply glut, which was already an issue, is expected to worsen once Iran rejoins the oil producing community even as demand wanes.
  • Pivot Points & Fibonacci Retracement Levels - Weekly
    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)FOREX_011616_w.png
  • Chart of Interest - USD/JPY - Weekly(click to enlarge)Chart_USDJPYl_W_011616.png
  • Global Stock Indices, Commodities & USD -vs- Majors - Weekly(click to enlarge)DOLLAR_011616_w.png

Topics: Pivot Points, Asian session, Weekly

 

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