Currencies
EUR/USD – has been moving up as the likelihood of a Brexit have decreased and this is causing the EUR to strengthen. We can see that at the moment we are being held back by the resistance around the 1.1375 level.
USD/JPY – is trading relatively stable compared to other instruments at the moment. We are seeing a bit more risk appetite since a Brexit has become a bit less likely, but the USD remains very weak, meaning that we are not seeing any large moves – for now. We are trading just below the resistance as well.
GBP/USD – is entering a crucial week with the Brexit referendum this Thursday. We can see that there has been a change in sentiment after the assassination on Thursday and the main question obviously is if that will indeed hold.
Indices
DAX 30 – has moved up due to the improved sentiment, but appears to be having a hard time at these levels and we will be looking to see if the support around the 9815 level will hold when we get there.
Commodities
Gold – is moving down and is nearing the support around the 1276 level, even though the USD is weakening, which should lift gold prices. This has everything to do with the change in expectation on how the Brexit referendum will play out.
Oil – has moved sharply up as it profits from both a weaker USD and also on an improved economic outlook as a Brexit looks less certain. On the other hand, we are seeing an increase in the number of active rigs for the third week in a row now. When we started the opposite trend, it took a long time to see an impact, so it could be that it will be the same here, but looking at the production numbers on Wednesdays is becoming more and more interesting. We are also trading close to the resistance around the 39.40 level again.
Stocks
Boeing (NYSE:BA) – as reported last week, Boeing has signed a deal with Iran to deliver 100 aircraft. The deal still has to be approved by the US government, but this is likely to be not a problem after the sanctions have been lifted. In addition, Boeing is close to closing the sale of 10 Boeing 747’s cargo planes, estimated to be worth $4 billion.