Currencies
EUR/USD – rose on the backdrop of better than expected data out of the Eurozone and weaker data out of the US. It reached the resistance around the 1.1116 level before moving a bit lower. Today we have important data out of both the Eurozone (inflation and GDP) and the US (GDP).
USD/JPY – saw a lot of volatility as was to be expected ahead and after the BOJ decision. In the end the BOJ managed to disappoint the markets yet again, as they have done already numerous times in the past. They didn’t change the interest rate, which was expected, but only decided to increase the amount of ETF’s it purchases. Focus will now shift towards next week when the Japanese government will announce its stimulus measures.
GBP/USD – remains trading between the 1.33 and the 1.305 level. We will obviously be looking at the GDP data out of the US, but mainly we will wait for more data out of the UK next month to see the impact the Brexit vote had on the UK economy.
Indices
DAX 30 – has moved back up to the level it was trading right before the Brexit vote, marking a move up of €1,200.
S&P 500 – technically pretty much unchanged with a firm resistance developing. Technicals are slowly turning as well, so we could start to see a correction.
Commodities
Gold – is moving slightly down and the nearest support can be found at the recently breached resistance around the 1.332 level.
Oil – has dropped below the 41 level as concerns remain over the oversupply in the markets. We will wait to see today if we see another increase in the number of active rigs. For an in depth analysis for oil I would like to refer you to the article uploaded yesterday.
Stocks
Alphabet (NASDAQ:GOOGL) (Google) – reported strong earnings with profit rising to $4.88 billion, in large part due to increased revenue from ads, especially on mobile devices.
Amazon (NASDAQ:AMZN) – reported better than expected earnings with a revenue of $30.4 billion while $29.6 billion was expected. In addition it increased its outlook for the third quarter.