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Daily Market Insight
Content
Global Economic Update
Currencies
Indices
Commodities
Economic Calendar
Indices

Global Economic Update

Europe

In the UK, retail sales slid 1.9% on a monthly basis in December, more than market expectations for a drop of 0.1%. In the prior month, retail sales had fallen by a revised 0.1%.

On a monthly basis, the producer price index in Germany rose 0.4% in December, in line with market expectations. The producer price index had registered an advance of 0.3% in the previous month.

US

In Canada, the consumer price index (CPI) unexpectedly fell 0.2% on a monthly basis in December, compared to a drop of 0.4% in the prior month. Market anticipation was for the CPI to remain flat.

Retail sales in Canada registered a rise of 0.2% on a monthly basis in November, less than market expectations for an advance of 0.5%. In the prior month, retail sales had registered a revised gain of 1.2%.

Asia

In Japan, the all industry activity index climbed 0.3% on a monthly basis in November, lower than market expectations for a rise of 0.4%. In the prior month, the index had recorded a revised flat reading.

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EUR/USD

EURUSD

The Euro strengthened against the US Dollar in the New York session on Friday, closing 0.53% higher at 1.0695.

At GMT 0600, the Euro is trading at 1.0747 against the US Dollar, 0.49% higher from the New York close.

The Euro hit a high of 1.0709 and a low of 1.0623 against the US Dollar in the New York session.

On technical indicator front, the price has crossed above its short term Simple Moving Average from below and the Stochastic Oscillator is trading above 50.

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GBP/USD

GBPUSD

In the New York session on Friday, the Pound strengthened 0.59% against the US Dollar to close at 1.2363.

The pair is trading at 1.2425 at GMT 0600 in the Asian session, with the Pound trading 0.5% higher against US Dollar from the New York close.

The pair witnessed a high of 1.2380 and a low of 1.2267 in the New York session.

Immediate downside, the first support level is seen at 1.2308, followed by 1.2191, while on the upside, the first resistance level situated in 1.2493, followed by 1.2561.

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USD/JPY

USDJPY

The USD traded 0.48% lower against the JPY in the New York session on Friday, with the pair closing the session at 114.57.

The pair is trading at 113.34 at GMT 0600 in the Asian session, with the US Dollar trading 1.07% lower against Yen from the New York close.

In the New York session, the pair traded at a high of 115.27 and a low of 114.19.

The pair is expected to find its first support at 112.65 and first resistance at 114.71. The second support is expected at 111.95 and second resistance at 116.07.

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EUR/GBP

EURGBP

On Friday, the Euro traded 0.1% lower against the Sterling in the New York session and ended at 0.8649.

In the Asian session, at GMT 0600, the pair is trading at 0.8646, with the Euro trading 0.03% lower against Sterling from the New York close.

The pair witnessed a high of 0.8670 and a low of 0.8637 in the New York session.

The pair is expected to find its first support at 0.8625 and first resistance at 0.8670. The second support is expected at 0.8603 and second resistance at 0.8693.

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AUD/USD

AUDUSD

On Friday, the Aussie Dollar traded 0.23% higher against the US Dollar in the New York session and ended at 0.7554.

In the Asian session, at GMT 0600, the pair is trading at 0.7568, with the Aussie Dollar trading 0.19% higher against US Dollar from the New York close.

The AUD hit a high of 0.7563 and a low of 0.7524 against the USD in the New York session.

In technical indicators, the Percentage Price Oscillator has crossed zero from below and the Stochastic Oscillator has crossed 50 from below.

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Major Indices

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FTSE 100

FTSE 100

The FTSE 100 fell 0.14% on Friday and closed at 7198.44. During the day, the index traded at a high of 7221.01 and a low of 7193.73.

The FTSE 100 is expected to find support at 7187.78, and a fall through could take it to the next support level of 7177.11. The index first resistance level is at 7215.06, and a rise through could take it to the next resistance level of 7231.67.

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Dow

DOW

The DJIA rose 0.48% on Friday and closed at 19827.25. During the session, the index traded at a high of 19842.90 and a low of 19759.14.

On technical indicator front, the index has crossed its lower Bollinger Band from below and the Williams%R indicator has crossed the oversold level (-80) from below.

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Nasdaq Composite

NASDAQ

The Nasdaq Composite strengthened 0.28% on Friday and closed at 5555.33. During the session, the index traded at a high of 5570.59 and a low of 5542.23.

The Nasdaq Composite is expected to find the first support at 5,541.51, and the next support at 5,527.68. The index is expected to find the first resistance at 5,569.87, and the next resistance at 5,584.42.

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Major Commodities

Major Commodities - Yearly Performance

Commodities
Gold/Silver
Crude/Corn
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Gold ($/oz)

Gold

Gold rose in the New York session on Friday, closing 0.67% higher at USD 1210.20 per ounce.

At GMT 0600, the precious metal is trading at USD 1216.40 per ounce, 0.51% higher from the New York close.

Gold hit a high of USD 1214.80 per ounce and a low of USD 1199.60 per ounce in the New York session.

The precious metal is expected to find its first support at USD 1203.27 per ounce and first resistance at USD 1224.47 per ounce. The second support is expected at USD 1190.13 per ounce and second resistance at USD 1232.53 per ounce.

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WTI Crude ($/barrel)

Crude Oil

On Friday, crude oil traded 0.91% higher in the New York session and ended at USD 53.24 per barrel.

At GMT 0600, the commodity is trading at USD 53.19 per barrel, 0.09% lower from the New York close.

Crude oil witnessed a high of USD 53.67 per barrel and a low of USD 52.72 per barrel in the New York session.

In technical indicators, the Stochastic RSI has moved up from the oversold territory and the Williams%R indicator has crossed -80 from below.

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