MARKET BRIEFING – LONDON OPEN 25.11.2015
Further updates on economic conditions within the United States will come in the form of the monthly Core Durable Goods Orders data this afternoon at 1:30 pm London time.
The index released by the US Census Bureau represents the change in the total value of new purchase orders placed with domestic manufacturers for delivery of durable goods.
Transportation and aircraft items are excluded from the index, since these goods are of a high value and volatility and can significantly distort the overall picture.
Durable goods are defined as items with a life expectancy of more than three years, which includes cars, computers, industrial machinery and appliances.
Monthly manufacturers’ inventories, shipments and orders are surveyed with the manufacturing companies of US$ 500 million and more in yearly deliveries.
An increased level of purchase orders shows that producers will be busy in the coming months to work on filling the orders, which consequently will influence the creation of additional jobs and increase spending.
The value of the index for the month of October is projected to improve to 0.5%, up from -0.3% of the previous publishing.
The actual value of the indicator that is above the forecasted will likely have a boosting effect on the US currency.
US Dollar Index has recently set new highs and was trading above 100 mark at the beginning of this week’s trading session. However, the index showed some weakness for the last two days and reached 99.35 low this morning.
EURUSD
The intraday technical outlook
Trend 1 hour: Down
Target 1: 1.0732
Target 2: 1.0552
Projected range in ATR’s: 0.0090
Daily control level: 1.0830
GBPUSD
The intraday technical outlook
Trend 1 hour: Down
Target 1: 1.5168
Target 2: 1.4988
Projected range in ATR’s: 0.0090
Daily control level: 1.5335
USDJPY
The intraday technical outlook
Trend 1 hour: Down
Target 1: 123.17
Target 2: 121.89
Projected range in ATR’s: 0.642
Daily control level: 123.75
USDCHF
The intraday technical outlook
Trend 1 hour: Up
Target 1: 1.0237
Target 2: 1.0089
Projected range in ATR’s: 0.0074
Daily control level: 1.000
USDCAD
The intraday technical outlook
Trend 1 hour: Up
Target 1: 1.3382
Target 2: 1.3224
Projected range in ATR’s: 0.0079
Daily control level: 1.3245
AUDUSD
The intraday technical outlook
Trend 1 hour: Up
Target 1: 0.7319
Target 2: 0.7181
Projected range in ATR’s: 0.0069
Daily control level: 0.7150
GOLD
The intraday technical outlook
Trend 1 hour: Range
Target 1: 1088.38
Target 2: 1061.82
Projected range in ATR’s: 13.27
Daily control level: 1098.00
OIL
The intraday technical outlook
Trend 1 hour: Up
Target 1: 44.58
Target 2: 41.58
Projected range in ATR’s: 1.5007
Daily control level: 40.65
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