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Weekly Market Snapshot - November 07, 2015: Forex, Equities, Commodities

November 07, 2015 - (Weekly) Pivot points, Support, Resistance & Fibonacci retracement levels for Currency pairs, Dollar Index, Global Stock Indices & Commodities offered by WorldWideMarkets and a Chart of Interest. {updated end of week}

  • Weekly Currency Performance (Strongest to Weakest)FX_Strength_110715.png

Market Best Performer Worst Performer Comments
Forex AUDNZD NZDUSD The hawkishness of last weeks' FOMC statement appears to have been corroborated by the better than expected Non-Farm Payrolls report which has traders repricing the odds of a December FED rate hike. Factor in the BOE lowering inflation expectations, a much weaker NZD employment report, decline in global dairy prices, an RBA that seems content to let FED action dictate the course of their monetary policy, the general lack of enthusiasm with global economic prospects and the US Dollar had no recourse but to surge. Conversely, the Kiwi was the weakest performer as the market expects the RBNZ to start rate cuts soon.
Equity Japan India Japanese stocks rose on speculation that a weaker Yen will boost exports while weaker corporate earnings continue to undermine Indian stocks.
Commodity Natural Gas Silver Natural gas prices rebounded a bit on forecasts of colder weather. 
  • Pivot Points & Fibonacci Retracement Levels
    A technical analysis indicator used to try and determine the short-term trend of the market. The pivot point is the average of the high, low and closing prices from the previous trading period. If the market on the following period trades above the pivot point it is thought to be exhibiting bullish sentiment, whereas trading below the pivot point is seen as bearish. The Fibonacci retracement is the potential reversal of a financial instrument's original move in price.(click to enlarge)FOREX_110715_w.png
  • Chart of Interest - NZD/USD - Weekly(click to enlarge)Chart_nzdusd_W_110715.png
  • Global Stock Indices, Commodities & USD -vs- Majors Weekly performance(click to enlarge)DOLLAR_110715_w.png

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