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 15.09.2016
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 15.09.2016


The Big Picture:

The International Energy Agency (IEA) recently projected that the Oil market would reach equilibrium, in terms of supply and demand, by 2017. This projection, amongst other factors, led to rising Oil prices. Yet it has now been revised. The IEA now expects that demand will now remain unchanged, meaning that a they don´t expect improvement in world economic activity. Supply and demand should remain unchanged, meaning that the current over supply of Oil will also remain. The IEA has not given a projection, as when the current supply glut is expected to end. Currently worldwide production of Oil stands at 97 million Barrels per day. Worldwide inventories of Oil in OECD countries, has reached 3.1 billion barrels, never reaching such levels before.


The DAX is in a downwards trend.


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 upward trend.


The USD is in a downward trend against the Yen. Major support is at 100 on a closing basis.


Gold mid term, is trending sideways. The next major resistance is at 1375, support at 1300.


Oil is in a downward trend.


The DAX has closed in negative territory for five consecutive days, losing 0.08% yesterday. Initially rumors of Bayer´s Monsanto takeover, pushed prices higher. During the day, Bayer confirmed the takeover during the day. After trading higher at +3%, Bayer closed up + 0.27%. It remains to be seen if this takeover was a good decision. US market traded up initially, yet closing relatively unchanged. The S&P closed down slightly at -0.06%. The next Fed rate decision, still influences trading on Wall Street. Strength was seen by Apple, the stock rose 3.54% after news that the new iPhone has seen good acceptance by clients. Japanese Investor are also awaiting news on rates from their central bank. The Nikkei loses 1.22%. The USD, Gold and WTI Oil are unchanged this morning.

Today´s numbers (CET):

  • 13:00 UK: Rate Decision, Bank of England
  • 14:30 USA: Empire State Manufacturing, Retail Sales, Initial Jobless Claims,PPI

Corporate news:

  • USA: Quarterly Earnings: Oracle

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.