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Chart Analysis

SUMMARY

Last Close1.1299
% Change0.05%
1 year % Change-4.77%
1 year Range1.1250-1.2349

EUR/USD

INTRADAY LEVELS

Resistance 31.1570
Resistance 21.1420
Resistance 11.1370
Pivot Point

1.1290

Support 11.1255
Support 21.1201
Support 31.1115

MARKET OUTLOOK

    • Investing.com - European stock markets traded higher Friday, seeking to end a volatile week on a positive note as investors wait for more news about the omicron Covid variant ahead of the release of important U.S. employment data.

      At 4 AM ET (0900 GMT), the DAX in Germany traded 0.4% higher, the CAC 40 in France rose 0.2% and the U.K.’s FTSE 100 climbed 0.2%. 

      Equity markets around the world have suffered wild swings for much of this week amid uncertainty over the economic impact of the recently discovered omicron Covid variant. 

      The European Union's public health agency said on Thursday that omicron could account for more than half of all infections in Europe within months, while Germany, Europe's biggest economy, said it would only allow those with proof of vaccination or naturally-acquired immunity into shops and restaurants. It will also make vaccination mandatory for those in the health and care systems from March.

      In South Africa, where the variant first emerged, latest data show that rates for new infections and hospitalizations are rising faster than in previous waves of the pandemic.










TREND

1Hdown
5Hdown
DAILYdown
WEEKLYup

KEY ECONOMIC EVENTS

TimeCurrencyImpactEvent
NANANANA
NANANANA

SUMMARY

Last Close

66.50

% Change

-0.88%

1 year % Change79.34%
1 year Range42.30-85.41

CRUDE OIL

INTRADAY LEVELS

Resistance 371.40
Resistance 270.10
Resistance 169.30
Pivot Point68.66
Support 167.50
support 266.80
Support 367.40

MARKET OUTLOOK

      • SINGAPORE (Reuters) -Oil prices climbed on Friday, extending gains after OPEC+ said it would review supply additions ahead of its next scheduled meeting if the Omicron variant dents demand, but prices were still on course for a sixth week of declines.

        Brent crude futures rose $1.34 cents, or 1.9%, to $71.01 a barrel by 0752 GMT, after climbing 1.2% in the previous session.

        U.S. West Texas Intermediate (WTI) crude futures rose $1.38, or 2.1%, to $67.88 a barrel, adding to a 1.4% gain on Thursday.

        The Organization of the Petroleum Exporting Countries, Russia and allies, together called OPEC+, surprised the market on Thursday when it stuck to plans to add 400,000 barrels per day (bpd) supply in January.

        "Unless we get a major Omicron escalation...this week’s lows for Brent and WTI likely represent the lows for the medium-term," Jeffrey Halley, senior analyst at OANDA said.

        However, the producers left the door open to changing policy swiftly if demand suffered from measures to contain the spread of the Omicron coronavirus variant. They said they could meet again before their next scheduled meeting on Jan. 4, if needed.


TREND

1Hup
5Hup
DAILYup
WEEKLYdown

KEY ECONOMIC EVENTS

TimeCurrencyImpactEvent
NANANANA
NANANANA

SUMMARY

Last Close1762
% Change0.24%
1 year % Change-2.23%
1 year Range1677-1971

SPOT GOLD

INTRADAY LEVELS

Resistance 31790
Resistance 21783
Resistance 11776
Pivot Point1767
Support 1

1760

Support 21755
Support 31747

MARKET OUTLOOK

    Gold rose on Friday morning in Asia. However, the yellow metal braced for its third consecutive weekly decline, weighed by signs that the US Federal Reserve will accelerate the pace of reduction in asset purchases and raise interest rates earlier than expected to curb inflationary pressures.

    Gold futures rose 0.66% to $1,774.30 by 10:48 PM ET (3:48 AM GMT), after falling to their lowest level in nearly a month on Thursday. Gold is down 1.3% so far for the week.

    The US Federal Reserve continues to reinforce its message that it will accelerate the decline in asset purchases. Atlanta Federal Reserve Chairman Rafael Bostic said at the Reuters NEXT conference on Thursday that it would be appropriate to end the Fed's bond-buying program by the end of March 2022.

    He added that this would give the Fed the option of raising interest rates to deal with inflation.

    US Treasury Secretary Janet Yellen added at the conference that the Fed's job is to ensure that the current run of high inflation does not develop into a "long-term harmful spiral".

TREND

1Hdown
5Hdown
DAILYdown
WEEKLYdown

KEY ECONOMIC EVENTS

TimeCurrencyImpactEvent
NANANANA
NANANANA