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Weekly Market Snapshot - December 05, 2015: Forex, Equities, Commodities

December 05, 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_120515.png
Market Best Performer Worst Performer Comments
Forex CHFJPY USDCHF A tumultuous week came to an end after Draghi, at least temporarily, refused to inject more QE to resuscitate the European economy. The subsequent short squeeze sent the US Dollar sharply lower and diminished sentiment to such an extent where even another buoyant US Non Farm Payroll report, and the resulting implication for a December rate hike, could not revive the greenback. The higher yielding antipodeans (Kiwi, Aussie) also gained a bid at the expense of the lower yielding majors. 
Equity Nasdaq Germany European stocks, led by the German bourses, under performed the rest of the major global indices as Draghi's unwillingness to commit to more QE had investors rushing to the exits.
Commodity Silver US Crude Oil (WTI) The statement from OPEC that production quotas would not be considered led to crude oil prices ending the week on the defensive. This essentially corroborated the markets' view that member nations are more concerned with maximizing individual revenue streams as opposed to maintaining an united front and collectively setting a fixed rate to exact more control over prices. This also underlines the fissure that has been quite evident for some time as global economic under performance and competition from other sources (shale oil etc..) has dampened demand to the point where the once feared "OPEC CARTEL" is that in name only.
  • 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_120515_w.png
  • Chart of Interest - Dollar Index - Weekly(click to enlarge)Chart_DXY_120515_w.png
  • Global Stock Indices, Commodities & USD -vs- Majors Weekly performance(click to enlarge)DOLLAR_120515_w.png

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