23 Mar: Markets steady after UK terror attack. Janet Yellen and US healthcare vote in focus on Thursday.

By | March 23, 2017

 

Risk aversion has again been the focus on Wednesday, with stocks remaining heavy and the dollar also under some pressure, particularly against the Yen, as traders remain concerned that Donald Trump does not have the ability to fulfill his election promises and push through his policies, including tax cuts and infrastructure spending. At the end of the session though the stock indices are trading fairly close to the previous day’s closing levels, as is the dollar against most pairs, with the exception of the safe haven assets, which remain in demand.

Thursday kicks off with the RBNZ Interest Rate Decision (no change – as expected) which is about the only Asian interest, although Europe will be busier with the release of the UK February Retail Sales (exp 0.4% mm, 2.6% yy), EU Consumer Confidence (Mar), the German Consumer Confidence Survey (Apr), the EU Economic Bulletin and the Targeted Long Term Refinancing Operation (LTRO) figures. The US session will also be active, beginning with a speech from Janet Yellen, which will be the main focus of the day if she gives any hint of future policy at the Federal Reserve System Community Development Research Conference. Also from the US, we get the Kansas Fed Mfg Activity (March), New Home Sales (Feb), Jobless Claims and a speech from the Fed’s Kashkari. Also note, the other event that will be closely watched on Thursday will be the vote on the repeal of Obamacare. A defeat could  weigh on US stocks and another selloff in the dollar,

The levels in this table are a guide only. For more in depth analysis please go the “Articles” tab at the top of the page and scroll down

CURRENCIES
EURUSD: 1.0798
Res  1.0830  1.0875  1.0900
Sup  1.0775  1.0740  1.0720
USDJPY: 111.13
Res  111.55  111.85  112.25
Sup  110.75  110.50  110.10
GBPUSD: 1.2482
Res  1.2505  1.2535  1.2570
Sup  1.2425  1.2400  1.2345
USDCHF: 0.9915
Res  0.9940  0.9970  1.0000
Sup  0.9880  0.9860  0.9835
AUDUSD: 0.7680
Res  0.7690  0.7715  0.7740
Sup  0.7650  0.7635  0.7620
NZDUSD: 0.7047
Res  0.7075  0.7090  0.7110
Sup  0.7035  0.7015  0.6990
INDICES / COMMODITIES
S+P: 2342
Res  2358  2370  2378
Sup  2332  2326  2316
DJI: 20595
Res  20670  20765  20840
Sup  20520  20460  20380
ASX SPI: 5689
Res  5708  5730  5746
Sup  5664  5650  5630
GOLD: 1248
Res  1252  1258  1264
Sup  1244  1236  1226
SILVER: 17.52
Res  17.60  17.65  17.85
Sup  17.45  17.30  17.15
OIL (WTI): 48.09
Res  48.70  49.45  50.10
Sup  47.50  47.05  46.15