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 03.11.2016
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 03.11.2016


The Big Picture

WTI Oil has lost 10% in value since reaching a recent high of 52 USD 2 weeks ago. WTI Oil trades at 45.74 USD this morning, after losing 2.85% in yesterday trading. The drop in prices was triggered by the buildup of oil inventories, which according to the Energy Information Agency rose by 14.4 million barrels to 482.6 million in the last week. Analysts had only expected a rise of 1.5 million. The buildup of 3 % in the last week was the highest since 2008, which was caused by higher imports. In addition, high worldwide production put further pressure on prices. The agreed production cuts by Opec are increasingly being taken less seriously by investors.


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 a short-term downward trend, major support is at 100.


Gold is in an upward trend


WTI Oil is in a downward trend


The downward pressure remains in German markets. The DAX lost 1.47%, largest losers being BMW, RWE and Commerzbank, each dropping 3 %. Highest gainer was Fresenius at +0.78%. Reasoning behind the weakness continues to be fear of Donald Trump becoming President, various polls already showing him in the lead. This also led the Euro to rise against the USD, which puts German export companies under pressure. The ADP employment figures were released in the USA, newly created jobs came in weaker than expected by analysts at 147000. The Fed remained unchanged.  Facebook reported very good numbers, yet gave a weaker outlook. The stock dropped 8% in after-market trading. The S&P 500 lost 0.65%. Asian markets are   undecided. The USD, Gold and WTI Oil are weaker.

Economic Data:

  • 13:30 USA: Initial Jobless Claims
  • 14:45 USA: Market PMI
  • 15:00 USA: Factory Orders

Quarterly Results:

  • Germany: Adidas, Beiersdorf, ProSieben and Vonovia
  • USA: Starbucks, Symantec, Kraft Heinz

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.