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Home / Analytics / Forex analysis & forecasts / Market Overview / Morning Call. Market Overview for 19.10.2016
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Morning Call. Market Overview for 19.10.2016


The Big Picture

The US earnings season is in full flight. After Alcoa´s weak numbers initially left investors unsure, further results have mostly been positive. In the financial sector JP Morgan, Citicorp, WellsFargo and Goldman Sachs all reported good numbers. This was mainly due to good results in their bond trading operations. In the tech sector Apple, Microsoft, Google, Amazon and Facebook are due to report in the next 2 weeks. Netflix already surprised with its good results, as subscriber numbers grew due to their interesting in house production. In Germany BASF showed convincingly strong numbers. It remains to be seen if the results season will provide an impulse for the equity markets to break out of their current sideways trend.


The DAX is in n 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 the process of bottoming. Support ist at 1240 USD


WTI Oil is in an upward trend


The German stock market showed strength on Tuesday, gaining 1.22%. A positive tone in US futures gave support. Highest gaining stock in the DAX was Lufthansa, rising 3.18%. Lufthansa has seen a trend reversal and is continuing in an upward trend. After showing bad quarterly results, Continental was the only losing stock in the DAX, falling 1.34%. In the USA, the S&P 500 gained 0.62% on the back of good company results. Yahoo and Intel reported numbers after the market closed. Yahoo managed to beat expectations and rose. Intel gave a weak outlook for the next quarter, in response to dropping PC demand, the share dropped 3.4%. Asian markets are unchanged. WTI Oil continues its upward trend and gains 0.93%. Gold is slightly lower and the USD unchanged.

Economic Data:

  • 14:30 USA: Housing Starts
  • 20:00 USA: Fed Beige Book

Quarterly Results:

  • USA: Halliburton, Morgan Stanley, American Express, Ebay

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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.