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Home / Analytics / Forex analysis & forecasts / Market Overview / Morning Call. Market Overview for 05.09.2016
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Morning Call. Market Overview for 05.09.2016


The Big Picture:

German Equity markets traded very firm on Friday, the DAX rose 1.42%. Biggest gaining stocks were RWE and E.ON, which previously had traded weaker. In Mecklenburg-Vorpommern´s regional election, Germany´s leading political party, The CDU, produced its worst result in history. The CDU reached a result of 19%, putting it behind the new center-right AfD, and this in Angela Merkel´s political home county. The AfD reached 20.8%, leaving the CDU as the third strongest party in Mecklenburg-Vorpommern Voter participation was up by 10%. The vote deciding subject can not be found on a regional level, it is a matter of state. The refugee question, putting all other subjects in its shadow. Of particular interest is the political structure of the AfD´s voters, not just being of conservative, right wing origin and coming from all societal backgrounds. Even taking votes from the left Linken, SPD and CDU. Additionally, the and managed to motivate previous non voters back to the urns. 75% of AfD voters declared that their vote had been motivated out of protest against the established parties. It will be of great interest to see if Angela Merkal can convince the voters of her policy of small steps, come next elections.


The DAX is in an upward trend. Next important resistance is seen at 10860, support at 10500.


The Euro is trading sideways in a large trend. Support is at 1,0822, resistance at 1,1429. Short term the Euro is in a downward trend. Short term the Euro is in a downward trend.


The Yen is in and downward trend


Gold mid term, is now trending upwards, short term we are seeing a sideways move. The next major resistance is at 1375, support at 1300. Gold is showing some very short term weakness. Gold is nearing its support at 1300.


WTI oil has reversed. Oil is now in a downward trend.


The S&P 500 gained 0.43% after Friday´s US jobs data. Nonfarm Payrolls came in 28000 weaker that expected, which gained 151000. These numbers proved perfect for investors. On the one hand, the US economy is till adding jobs and on the other these numbers came on worse that expected, leaving little room for a rate increase in the near future. Asian markets gave a robust performance, Hong Kong gaining 1.7% and Tokyo 0.8%. Taiwan and Korea also gained. The USD is trading lower against the Yen and the Euro. Gold is unchanged, while WTI Oil is weaker.

Today´s numbers (CET)

  • 09:30 Germany: Market PMI Composite
  • USA is closed today, bank holiday.

Company news:

  • USA: Quarterly Earnings: No data expected.

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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.