The Big Picture:
World wide wealth has seen further growth, as such wealth for private households rose by a 155billion Euro in 2015, so gaining 4.9%. This although, was the lowest gain since 2011. The report was given by the Allianz „ Global Wealth report“. In recent years, growth had been at 9%. The main reason for the slowdown was the weakening appreciation of stocks and bonds, slowing particularly in Western Europe. Largest gains were seen in Asia,excluding Japan, where wealth appreciated by 15.8% in 2015. It is interesting to see the development of the middle classes. Countries such as Turkey and Thailand are seeing an increase in their middle classes, yet classical industrial countries such as Italy, the USA and Japan are decreasing.
The DAX is in an 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.
USD / JPY
The USD is in a downward trend against the Yen. Strong support is seen at a closing level of 100.
Gold is in a sideways trend. Strongest resistance is seen at 1375 USD and support at 1300 USD
WTI Oil has reverted its trend and us trending upwards.
RoboForex Analytical Department
After 5 consecutive days of gains the DAX saw profit taking, losing 0.44%. Deutsche Bank lost most at -1.98%. In European markets, Italy and Spain lost most. The upcoming referendum in Italy, casting its shadow. This yet may cause volatility in markets. The US S&P 500 lost 0.57%, in line with larger losses in WTI Oil, oil exploration companies losing the most. Gainers of the day were seen in pharmaceutical stocks, Endo International gaining 15.45%. Prior to the OPEC conference in Algiers, WTO Oil lost 3.97%. Asian markets are trading weaker this morning, the Nikkei 225 losing -0.72%. The USD is virtually unchanged to the Euro and Yen. Gold trades lower and WTI Oil up.
10:00 Germany: IFO
16:00 USA: New Homes Sales
USA Quarterly Results:
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.