Forex rate forecast gold XAU / USD on the week 23-27.01.2017
The last four weeks of trading precious metal finishes bids growth of quotations, and it is likely overdue technical correction down.
Forex Investors in gold should pay attention to two factors that may have a strong pressure on the gold price.
The first factor, the report of the US GDP will be released on the new trading week for the 4th quarter 2016. Players should wait for positive data, as in the reporting period was recorded an increase in consumer spending, as well as the growth of business activity in industry and services on the ISM data. Good data from the state will support the dollar in anticipation of meeting the US Federal Reserve, which is scheduled for February 1. The coming week will be rich in the quarterly reports of US companies, and it is likely players will see a continuation of the positive trend. The growth of the stock market is a negative factor for gold as a "safe" asset.
Gold (XAU / USD) a recommendation for the week: Sell 1210/1220 and take profit in 1177.
Brent crude forex forecast for the week 23-27.01.2017
In the new trading week, a negative background is formed by the oil. As noted above, during the week traders should wait for the growth of quotations of greenbacks, which is a negative factor for oil, as black gold is quoted in US currency. As the dollar index last six trading weeks of stable trading above the 100 - the oil will be hard enough to leave much up. You can not ignore the Friday release of Baker Hughes, which indicates an increase in production capacity in North America. In the US, the number of drilling rigs has increased by 41 units in Canada by 59 units, the highest level since December 4, 2015 and February 20, 2015, respectively. The newly increased number of vertical platforms in the US, which are the most effective in terms of oil production.
OIL (BRENT) recommendation for the week: Sell 56,00 / 57,50 and take profit 54,25.
Forex forecast for S & P500 for the week 23-27.01.2017
On 13 December 2016 the broader market index in the range of 2235.1 - 2282.4 and this week, investors may see the output up and update the historical maximum. What are the prerequisites for this?
Firstly, in view of the upward trend in the indices ISM PMI Non-Manufacturing and Manufacturing, we can expect the release of positive data on GDP for the 4th quarter, it would be welcomed by traders. The first two weeks of the season of corporate reports passed on a positive note: figures 75% of companies came out better than the median forecast. From the published release is to provide reports of the two largest US banks with revenue and net profit of Morgan Stanley exceeded the expectations of market participants to 8.93% and 24.6%, while Goldman Sachs by 9% and 5.4% respectively. Both banks traded below the industry average P / BV, which implies upside of 2% from current levels. Market participants should not expect a continuation of the positive dynamics that will allow the index to storm new heights.
S & P500 recommendation week: Buy 2272/2252 and take profit in 2293.
Aleksandr Goryachev
Company Analyst FreshForex
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