Morning Call. Market Overview for 25.08.2016

The DAX gained 0.28% on Wednesday. The stronger USD supporting the up move. Favorite stocks of the day were Deutsche Bank and Commerzbank. In the following days, markets will look to Jackson Hole, Wyoming, here, in the Rocky Mountains, the elite of the Fed meets annually, to discuss future interest police. The absolute highlight of this three day event is Fed President Janet Yellen´s appearance on Friday. Investors are hoping to gain information on the Fed´s future interest rate policy. Her predecessor, Ben Bernanke, often used this meeting to signal a change in interest rates to the market. Latest US economic data has been mixed, it will be interesting to see how Janet Yellen will interpret these numbers and which course of action will be taken.

 

The S&P is trading up 0.10% 

 

The DAX is in an upward trend. Next resistance is seen at 10860, the support at 10500 has been successfully tested.

 

The Euro is trading sideways in a large trend. Support is at 1,0822, resistance at 1,1429.  

 

 

The USD is in the process of forming a bottom. Support will be found at 100.31 on a closing level.

 

Gold mid term, is now trending upwards, short term we are seeing a sideways move. The next major resistance is at 1375, support at 1300. Gold is showing some short term weakness.

 

 

Oil is trending upwards, running into key resistance. WTI Oil is tending toward  term weakness.