Morning Call. Market Overview for 27.09.2016

The Big Picture:

Around 100 million Americans watched the Clinton vs. Trump duel at the Hofstra University in New York. That is roughly is roughly a third of the population and 70% of voters. Neither Clinton nor Trump made larger mistakes and gave very little new information. Instead rewarming old topics. On economic subjects, Trump again accused China of taking American jobs away. In addition, he pledged to lower taxes and to renegotiate international trade agreements. Clinton on the other hand, wants to subsidize businesses and support start ups. As a rule, presidential candidates reveal their income tax returns, Trump refuses to do this. At the moment, both are on roughly the same ground.
 

DAX

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

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



 

WTI Oil

WTI Oil has reverted its trend and us trending upwards.



 

Overnight:

The DAX started the week on a very weak footing, losing 2.19%. Largest losing stock was Deutsche Bank at -7.54%, whilst reaching a new all-time low. The DAX was the weakest European index, even  a positive IFO surprise not helping to give support. In the Stoxx 50, financial stocks were the loss leaders. In light of investors viewing Trump dimly, US markets weekend ahead of the Clinton vs, Trump TV duel. The S&P 500 lost 0.86%, retracing losses as the duel started at 3am CET , so trading +0.6% momentarily. Japanese stocks also reacted positively to the duel, the Nikker rising 0.32%. The USD is unchanged against the Yen and Euro. Whilst Gold loses, WTI Oil remains unchanged.
 

Economic Data:

• 15:45 USA: PMI Services
• 16:00 USA: Consumer Confidence

USA Quarterly Results:

• Nike

RoboForex Analytical Department