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 21.09.2016
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 21.09.2016

21.09.2016

The Big Picture:

Thanks to expansive monetary policy by the ECB, Bank of Japan, Bank of England, amongst others. Interest rates in industrial nations at at historic lows, reaching levels not seen in 5000 years. Alone the ECB buys 80 billion Euros worth of bonds per month. In 1998 LTCM, a fund run by Nobel Prize winning managers, came in to difficulties. The total amount in question was 5 billion USD. The then Fed Chair, Alan Greenspan, spoke of the financial system being at the edge of an abyss. Today the ECB buys 80 billion Euros of bonds a month. That is real inflation and a catastrophic situation for savers and investors. Momentarily 13 Trillion Euros worth of bonds are at negative interest rates. It remains interesting, as to how this situation will end.
 

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:

Prior to the Fed´s rate decision, German stocks ended the day up 0.19%. A typical trading day, prior to an important announcement. After initial strength, the DAX retraced lower. Trading in total was quiet. Deutsche Bank continued falling, landing just above its all-time low. US markets traded unchanged. The S&P gained 0.03% in quiet trade. Japan´s central Bank announced this morning, that their expansive monetary policy is set to continue. This led to a rise of 1% in the Nikkei 225. The USD rose 0.82% against the Yen. Gold loses 0.25% and WTI Oil rises 1.77%.
 

Economic Data:

  • 13:00 USA: MBA Mortgage Applications 
  • 20:00 USA: Fed rate decision
 

Corporate Data:

  • USA Quarterly Results: Bed Bath & Beyond Inc., amongst others


RoboForex Analytical Department


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.

Attention!

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.