Currencies
EUR/USD – with the majority of the European data slightly worse than expected and positive data out of the US, mainly GDP which was better than expected, we saw us move down again to the support around the 1.12 level.
USD/JPY – was trading up for the vast majority of the day, but in the end was unable to close above the resistance around the 101.26 level. With the angst creeping back to the markets though, we can see a higher demand for the JPY as a safe haven.
GBP/USD – did not succeed in breaking above the downwards trend line and subsequently moved lower to break again below the 1.30, also because of good data out of the US. Today we will have the GDP data out of the UK so we can expect some more volatility here.
AUD/USD – broke out of the wedge on the backdrop of the good US data which strengthened the USD.
Indices
DAX 30 – dropped sharply as the woes of Deutsche Bank (DE:DBKGn) continues to strike fear in the markets, especially the worries that this could start a domino effect.
S&P 500 – with the DAX dropping for the reasons mentioned above, the S&P was quick to follow, especially since the US is having its own banking issue with Wells Fargo (NYSE:WFC). We could see again that the resistance at the 2167 level was able to hold.
Commodities
Gold – is moving a bit up as worries on the possible fallout from the situation surrounding the Deutsche Bank are worrying some people, but on the other hand we also have a slightly stronger USD, so any gains are limited for now.
Oil – eventually moved further up yesterday but is not doing it very convincingly yet and getting closer to the level reached back in August. This is still due to the fact that OPEC was able to reach an agreement. More information about this can be found here.
Stocks
Deutsche Bank – remains under a lot of pressure as people are starting to take out money away from the bank, most notably it was reported that some major hedge funds started also to limit their exposure to the bank.