› Market review, November 6 - November 10, 2017

Market review, November 6 - November 10, 2017

Gold

In the first half of last week, gold showed a slight increase.
This was influenced by several fundamental factors, first among which was the weakening of the US dollar.
The Fed decided not to change the interest rate, and data on the labor market showed mixed data, thus, against the background of this, the US dollar fell against other assets, including gold.
In addition, in New York, the United States, there was a terrorist attack, an event which is known to stimulate the growth of assets - shelters.
As a result, gold went up and reached a resistance level of $ 1278.
Then, on Friday, against the backdrop of extremely positive data on the index of business activity, gold went down, breaking the $ 1272 and $ 1267 level, opening the way for a decline to the level of $ 1260.

Accordingly, the most likely scenario for next week will be the continuation of the downward movement of gold against the backdrop of the continued publication of Q3 reports and the strengthening of the US currency.


Market review, November 6 - November 10, 2017


Apple

The record holder of last week, according to reports, was, as expected, Apple.
This Q3 on the pre-market was impressive, and, after the opening of the exchange, we could see the opening with a huge gap up.
After a small rollback down, the price went up again, which made a lot of investors happy, having opened long positions.
Now, there is a question about the movement for the upcoming week - what to expect and where to open.
Some analysts believe that after such a jump, profit taking will necessarily follow, which will put pressure on the price of the techno giant and should cause a decline. In our opinion, despite reaching a record level of $ 172, there is still plenty of room for growth and the launch of active sales of Iphone X will provide substantial support for Apple's stock prices.
Accordingly, one can start trading from the opening price of the market on Monday to open long positions.


Market review, November 6 - November 10, 2017


EUR / USD

The previous week was full of important economic reports and events that influenced the price movement.
President of the United States Donald Trump on Thursday nominated Jerome Powell for the post of head of the Federal Reserve.
Most likely Powell will continue the policy of cautious lifting of incentive measures introduced during the last crisis, that is, he will slowly raise the interest rate and reduce assets on the balance of the Central Bank.
At the end of the week, all attention of financial market participants was focused on the report on the number of people employed outside the agricultural sector. According to the report, the number of employees for October increased by 261 thousand people compared with the projected value of 310 thousand.
The value for September was revised to 18 thousand (the initial estimate was -33 thousand). At the same time, the unemployment rate in the US fell to 4.1% against the expected 4.2%.
This is the lowest rate since 2001. Experts are confident that positive economic reports, as well as the appointment of the head of the Federal Reserve will help strengthen the US currency.


Market review, November 6 - November 10, 2017


GBP / USD

Last week the pound began a confident recovery of lost positions.
A positive report on the GDP of England contributed to this most of all.
The expected increase in the interest rate by the Bank of England did not give the expected strengthening of the British.
The pound rate fell to the minimum monthly price indicators.
Affected by the collapse of the rate statement of the Bank of England, that further increase in the interest rate will be gradual and will not exceed a certain value. Financial analysts believe that the weakening of the GBP is a temporary phenomenon, as positive economic reports and an increase in the interest rate by the Bank of England will boost prices.
Participants of the financial market this week should expect to strengthen the British, and finding a price on the minimum monthly mark provides an opportunity to enter into transactions both for short and long positions.


Market review, November 6 - November 10, 2017


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