Cookies help us deliver our services. By using our services, you agree to our use of cookies.
Learn more Got it
Dakar 2017
Roboforex is an official sponsor
of "Starikovich-Heskes Team"
at the Dakar 2017
Home / Analytics / Forex analysis & forecasts / Market Overview / Morning Call. Market Overview for 02.11.2016
Ask a question
Did not find the information you need? Ask your questions and get answers online!
Enter chat
Or enter your phone number in the form below and we will call you right away.
Call back

Morning Call. Market Overview for 02.11.2016


The Big Picture

US and European markets have failed to start the usually positive month of November with gains. The reasoning for this weakness being insecurity about the US election results. Candidate Donald Trump is seen as unpredictable and hence being a danger for Wall Street. At the end of last week, Wall Street had assumed a victory for Hillary Clinton, her lead has however all but melted away. Just ahead of the end of campaigning, the fight has become particularly dirty. The FBI aiding to strife by reopening Hillary Clinton´s email affair, where she illicitly used private email servers for government business. Additionally the FBI released records showing there her husband Bill Clinton pardoned the tax avoiding Trader Marc Rich. Marc Rich´s wife being a generous donated to the Democrats cause.


The DAX is in a sideways trend.  Resistance is at 10820, support at 10250.

Euro / USD

The Euro is in a large sideways trend against the Dollar. Support is at 1.0822, resistance at 1.1429.


The USD is in an upward trend.


Gold is in an upward trend


WTI Oil is in a downward trend


German stocks initially started November on a firm footing, very good Chinese data giving a positive tone. This quickly faded as fear of the US election results overwhelmed. In addition to a weakening Wall Street, German stocks accelerated their down move, the DAX dropping by 1.3%. The only gaining stock was Bayer at +0.55%, Deutsche Bank was the highest loser, down 3.84%. The S&P 500 fell 0.68% on election jitters. Valeant Pharmaceuticals was the positive exception, rising 33.74% in response to a Wall Street Journal article about a sale of their medical arm. Asian markets are showing weakness. The USD weakens, Gold rises 0.27% whilst WTI Oil continues its downward trend.

Economic Data:

  • 09:55 Germany: Unemployment Rate, Markit PMI
  • 13:15 USA: ADP NonFarm Employment
  • 19:00 USA: FOMC Statement

Quarterly Results:

  • Germany: Deutsche Lufthansa
  • USA: Facebook, First Solar

RoboForex Analytical Department

Dear reader!

Without authorization, you can view no more than two reviews per day and no more than 10 per month. To continue reading analytical reviews, register or login to your Members Area.


Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.