MARKET BRIEFING – LONDON OPEN 24.03.2016

MARKET BRIEFING – LONDON OPEN 24.03.2016

Postby Atlas CapitalFx » Thu Mar 24, 2016 6:25 am

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MARKET BRIEFING – LONDON OPEN 24.03.2016




This morning will begin with the monthly report on the UK Retail Sales at 9:30 a.m. London time, released by the Office for National Statistics.

The Retail Sales indicator tracks a change in the total value of inflation-adjusted sales at the retail level. As the consumer spending constitutes the majority of a country’s economic activity, the announcement will likely to cause a volatility of the GBP pairs.

The change in the inflation-adjusted sales is forecasted to decline to -0.7%, after the 2.3% improvement in the February’s release. As British Pound continues to weaken, the figures lower than expected could put downward pressure.

Following that the weekly US Unemployment Claims data will come into the spotlight at 1:30 p.m. London time. Also known as Jobless Claims, the indicator represents a measure of completed unemployment insurance forms that were submitted by individuals for the first time within a previous week.

Initial jobless claims have a big impact on financial markets because it shows a new and emerging unemployment and provides a gauge of strength in the US labour market. As employment figures and consumer spending are directly correlated, the statistics give an overview of the US economic activity.

The forecasted value for today’s release stands at 267.000, with the expected increase from the previous 265.000 number.

At the same time, traders will be on the lookout for the US the monthly Core Durable Goods Orders report, which usually has a high impact on the FOREX market.

This report measures the change in the total value of new purchase orders placed with domestic manufacturers for delivery of durable goods, excluding transportation items. The value for the previous period was published as 1.8% while the forecast for this reporting period is -0.2%.











EURUSD

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The intraday technical outlook

Trend 1 hour: Down

Target 1: 1.1285

Target 2: 1.1070

Projected range in ATR’s: 0.0109

Daily control level: 1.1260




GBPUSD

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The intraday technical outlook

Trend 1 hour: Down

Target 1: 1.4260

Target 2: 1.3970

Projected range in ATR’s: 0.0147

Daily control level: 1.4400




USDJPY


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The intraday technical outlook

Trend 1 hour: Up

Target 1: 113.50

Target 2: 111.20

Projected range in ATR’s: 1.14

Daily control level: 112.20




USDCHF

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The intraday technical outlook

Trend 1 hour: Up

Target 1: 0.9840

Target 2: 0.9660

Projected range in ATR’s: 0.0091

Daily control level: 0.9670




USDCAD

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The intraday technical outlook

Trend 1 hour: Up

Target 1: 1.3355

Target 2: 1.3050

Projected range in ATR’s: 0.0152

Daily control level: 1.3020




AUDUSD

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The intraday technical outlook

Trend 1 hour: Down

Target 1: 0.7630

Target 2: 0.7435

Projected range in ATR’s: 0.0098

Daily control level: 0.7650




GOLD


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The intraday technical outlook

Trend 1 hour: Down

Target 1: 1243.00

Target 2: 1198.00

Projected range in ATR’s: 22.82

Daily control level: 1260.00




OIL

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The intraday technical outlook

Trend 1 hour: Down

Target 1: 41.25

Target 2: 38.00

Projected range in ATR’s: 1.62

Daily control level: 42.60







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Atlas CapitalFx
 
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