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Home / Analytics / Forex analysis & forecasts / Market Overview / Morning Call. Market Overview for 20.09.2016
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Morning Call. Market Overview for 20.09.2016

20.09.2016

The Big Picture:

The elections for the House of Representatives in Berlin ended in a disaster for Germany´s established parties CDU And SPD. The current coalition between the CDU and SPD was not reelected. The SPD lost 6.7%, landing at 21.6% and the CDU losing 5.8% to land at 17.6%. This was the worst result for the CDU in Berlin and one of the worst results in total. What are the political consequences? The current SPD mayor will likely form a coalition with the Linke (The Left) and the Green party. In the year ahead of the next general elections, this might well be signal the Union. Should the CDU not manage a turnaround, this leftwing coalition might well be an option for Germany. After weak results in Mecklenburg-Vorpommen and know in Berlin, Chancellor Merkel (CDU) has now for the first time, that mistakes were made in the refugee policy. Doing this she is trying a turnaround.
 

DAX

The DAX is in an upward trend.  



  

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 downward trend against the Yen. Strong support is seen at a closing level of 100.



 

Gold

Gold is in a sideways trend. Strongest resistance is seen at 1375 USD and support at 1300 USD



 

WTI Oil

WTI Oil is in a downward trend. Strongest support is at 41.85 USD.




Overnight:

In light of Wednesday´s interest rate decision in Japan and the USA, markets trended stronger. The DAX gained 1%: The largest gaining stock being RWE, who are managing their exit from atomic energy better than their competitor E.ON. Deutsche Bank shares traded against the trend, losing -2.42%, a sell recommendation putting prices under further pressure. Wall Street started the week unchanged. Financial stocks gained, Wells Fargo gaining 1.3%. Takeover rumors amongst  Casino/ Gaming stocks, caused prices to rise in that sector. The Japanese Nikkei 225 gains 0.44%, Energy and Telecom stock gaining the most. The Yen gains against the Dollar, the Euro  is unchanged against the USD. Gold gains 0.26%, whilst WTI Oil drops a further 0.51%.
 

Economic Data:

  • 14:30 USA: Housing Starts

Corporate Data:

  • USA Quarterly Results: FedEx, Adobe Sytems



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