25 January 2017
powered by Land Prime
German Ifo Business Climate: German business morale edged up to 111 in December from 110.4 in the previous month, rising to the highest level since February 2014. The strong reading indicates strong growth in the fourth quarter. The reading was higher than anticipated showing Germany was resilient to downside risks from the Brexit and the uncertainties regarding the new US policy under the newly elected President. Economists believe growth will be weaker in 2017 compared to 2016 due to elevated interest rates leading to higher inflation and a slowdown in the employment market. Business climate is expected to rise to 111.3 this time. US Crude Oil Inventories: The Energy Information Administration reported a build of 2.3 million barrels for the week to January 13, a day after the API reported a 5.04-million-barrel decline tin US Crude oil inventories. Refineries produced 9 million barrels per day of gasoline, down on the previous week’s 9.7 million barrels daily. Inventories of the fuel increased by 6 million barrels in the period, compared with a 5-million-barrel increase in the week to January 6. Imports of crude oil registered 8.4 million barrels daily. EUR
German Ifo Business Climate
USD
Crude Oil Inventories
NZD
CPI q/q
Your capital is at risk!
- GOLD
The gold is traded right below a strong resistance level around 1220 so as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1210 followed by 1200 during the day. On the other hand, breaching the level of 1220 opens the door for the pair to reach the level of 1230 during the day.
Resistance levels: |
Support levels: |
Recommended: |
▪ 1220 ▪ 1230 ▪ -- |
▪ 1210 ▪ 1200 ▪ -- |
We remain bearish as long as the pair is traded below the level of 1220. Your capital is at risk! |
- GBPJPY
The pair is traded below a strong resistance level around 142.50 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 141 during the day.
Resistance levels: |
Support levels: |
Recommended: |
▪ 143.75 ▪ 142.50 ▪ -- |
▪ 141 ▪ -- ▪ --
|
We remain bearish as long as the pair is traded below the level of 142.50 Your capital is at risk! |