The S&P 500 is trading 0.14% lower.The DAX is done 0.22%. Against the market trend, Commerzbank and Deutsche Bank gain 3%. Takeover speculation in the financial sector for this positive move. An Article in „Manager Magazine“, lent credibility to this speculation, by looking at various possibilities in the German financial sector. An underlying fact is that in future, the German banking sector looks set to suffer further under the current zero/negative interest rate policy. US banks in particular, have got a large competitive advantage in this instance, as the Fed is contemplating raising rates. The ADP data arrived within expectations, coming in at 17700 in July, against an expected 175000. This data gives no direct relation to last Friday´s job numbers. The USD is rises 0.4% against the Yen and 0.07% to the Euro. Gold loses 0.25% and WTI Oil loses 0.86%. We expect a lower start on Wall Street.
The S& P500
The S&P500 is in an upwards trend. Short term we are in a sideways move. Resistance is at 2197 and support is to be found at 2150.
The Nasdaq 100 is in an upward trend. Short term we see a sideways move. Resistance is at 4837 and support is to be found at 4767.
RoboForex Analytical Department
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.