Technical Analysis

Support and Resistance for Feb 17 , 2017 - US Session

Support Resistance:

Currency Pair EUR/USD GBP/USD USD/JPY AUD/USD Dow Jones
GOLD
Resistance 3 1.0720 1.2520 113.90 0.7750 20640 1250.00
Resistance 2 1.0680 1.2580 113.50 0.7710 20600 1248.50
Resistance 1 1.0650 1.2450 113.00 0.7680 20550 1245.00
Market 1.0640 1.2420 112.60 0.7665 20540 1242.50
Support 1 1.0620 1.2380 112.50 0.7650 20500 1240.00
Support 2 1.0605 1.2350 112.05 0.7605 20450 1238.00
Support 3 1.0580 1.2310 111.50 0.755
20400 1235.50
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Market review for for Feb 17, 2017

In New Zealand this morning, New Zealand retail sales volumes rose 0.8% for the fourth quarter of 2016 following a revised 0.8% increase for the third quarter which was originally reported as 0.9%. The increase was below consensus expectations of a 1.0% increase while the year-on-year increase slowed to 4.2% from 5.1% previously.

Underlying sales rose 0.6% on the quarter following a revised 0.2% gain the previous quarter with annual growth of 3.8% from 5.0% previously.

11 of the 15 retail sectors advanced for the quarter with a gain of 1.9% for motor-vehicle and parts. The sharpest decline was seen in non-store and commission-based retailing which declined 5.6% following a 5.2% decline the previous quarter, although this is a very volatile sector and the declines following substantial sales increases over the previous seven quarters. There was also a significant decline in clothing and footwear sales for the quarter.

In annual terms, the strongest gain came from electrical and electronic goods sales with a 9.2% gain. All sectors recorded positive growth over the year, although sales at supermarket and grocery stores rose only 0.1% with specialized food sales also weak at 0.5%.

There has not been any significant shift in trend estimates over the past few quarters and underlying sales growth is likely to remain firm in the short term. The data is unlikely to have any significant near-term policy implications, especially as it is relatively dated, with the Reserve Bank of New Zealand waiting for further evidence on underlying inflation pressures within the economy.

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Support and Resistance for Feb 17, 2017 - European Session

Support Resistance:

Currency Pair EUR/USD GBP/USD USD/JPY AUD/USD USD/CHF
GOLD
Resistance 3 1.0750 1.2580 114.500 0.7820 1.0050 1242.50
Resistance 2 1.0705 1.2550 114.05 0.7790 1.0020 1240.00
Resistance 1 1.0680 1.2505 113.50 0.7750 1.0000 1238.50
Market 1.0670 1.2495 113.35 0.7700 0.9975 1237.20
Support 1 1.0650 1.2480 113.10 0.7690 0.9950 1235.000
Support 2 1.0650 1.2440 112.70 0.7650 0.9905 1232.00
Support 3 1.0580 1.2405 112.20 0.7605
0.9980 1230.00
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Support and Resistance for Feb 16 , 2017 - US Session

Support Resistance:

Currency Pair EUR/USD GBP/USD USD/JPY AUD/USD Dow Jones
GOLD
Resistance 3 1.0720 1.2520 113.90 0.7750 20640 1250.00
Resistance 2 1.0680 1.2580 113.50 0.7710 20600 1248.50
Resistance 1 1.0650 1.2450 113.00 0.7680 20550 1245.00
Market 1.0640 1.2420 112.60 0.7665 20540 1242.50
Support 1 1.0620 1.2380 112.50 0.7650 20500 1240.00
Support 2 1.0605 1.2350 112.05 0.7605 20450 1238.00
Support 3 1.0580 1.2310 111.50 0.755
20400 1235.50
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Market review for for Feb 16, 2017

In Australia, Australian employers added more workers than expected in January, although a sharp decline in full-time employment painted a mixed picture of the labor market at the start of the year.

In seasonally adjusted terms, overall employment rose by 13,500 to 11,998,200 in January, following a revised gain of 16,300 the previous month, the national statistics bureau said in a report on Thursday. Economists in a median estimate projected an increase of 9,700.

Despite the gain, full-time employment plunged by 44,800, more than offsetting the previous month’s downwardly revised gain of 11,300.

Part-time jobs were once again the main contributed of employment growth, rising 58,300 in January.

The unemployment rate ticked down to 5.7% in January, as workforce participation edged down to 64.6% from 64.7%.

Monthly hours worked across all jobs increased 3.6 million hours last month, official data showed.

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