Morning Call. Market Overview for 07.11.2016

The Big Picture

On Sunday, the head of the FBI James Comey announced that there has been no criminal behavior evident in Hillary Clinton´s latest email affair. As such, there will not be an investigation in to the Democrat´s presidential candidate. Hillary Clinton had used private email servers for government business. James Comey announced that this was careless, yet he could see no legal consequences arising. This development gives Hillary Clinton a certain relief in the build up to the election. She had markedly lost ground to Republican Donald Trump recently, due to the email investigation. International markets had strongly lost in the last weeks due to Trump´s lead, this morning however, the S&P500 is up 1.25%.

DAX

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.

USD / JPY

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

Gold

Gold is in an upward trend

WTI Oil

WTI Oil is in a downward trend

Overnight:

Stocks were gripped by the elections and US job numbers on Friday. The DAX index lost for its 6th consecutive day, down 0.65%. Largest losing stock was ProSiebenSat.1, dropping 7.36% after announcing a capital increase. Adidas also dropped 3,13% after weaker quarterly numbers. BMW managed to gain 0.54% on better data. US job numbers came in weaker than expected, jobs outside of the agricultural sector had weekend. The S&P lost 0.17%. Asian markets and US futures are firm this morning in response to Hillary Clinton´s exoneration. The USD and WTI Oil are firmly in positive territory whilst Gold loses 1.09%.

Economic Data:

• 08:00 Germany: Industrial Orders

Quarterly Results:

• USA: Cognizant Technology, amongst others

RoboForex Analytical Department