Practice English Speaking&Listening with: Daily Market News - January 13th, 2016

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Hello and welcome to HiWayFX market news for January 13, 2016.

On Wednesday, the euro kept losses against the American dollar by losing 0.3%.

Currently, the EUR/USD pair trades above the level of 1.0817, as you can see here.

During the day, the pair may react on publication data from the Euro zone.

Industrial production in the euro zone is expected to show a 0.2% drop m/m in November

following 0.6% growth reported in October

while growing 1.7% Y/Y, compared to a 1.9% gain recorded in October.

The resistance levels for the euro are 1.0918 and 1.0945.

The support levels for the euro are 1.0810 and 1.0783.

The following graph shows that yesterday, the GBP/USD pair tumbled to 1.4350

by losing about 1%, it is the lowest level since June 2010.

The British pound fell to fresh five-year lows against the American dollar on Tuesday

after data showing that U.K. industrial and manufacturing production dropped sharply in November,

adding to concerns over the uneven economic recovery.

The Office for National Statistics said industrial production fell 0.7% in November

from the previous month compared with forecasts for a flat reading.

It was the biggest drop since January 2013.

Manufacturing production fell 0.4% compared with October, well below forecasts for a 0.1% increase.

This morning we observe attempts of the pound to manage its losses.

The key resistance levels for the pound are 1.4501 and 1.4537.

The support levels for the GBP/USD pair are 1.4290 and 1.4254.

This morning US Crude oil trades on a positive area, by adding about 2%.

Oil trades near to the level of $31.00.

However, on Tuesday, US Crude Oil dropped below $30 a barrel for the first time in 12 years

on concern that turmoil in Chinas markets will curb fuel demand.

As Bloomberg writesconcerns that Chinas economic growth may slow

has soured investors on the prospects for a quick recovery

turning hedge funds the least bullish in five years.

A rapid appreciation of the U.S. dollar may send Brent oil to as low as $20 a barrel, Morgan Stanley said.

Oil extended a 70 percent drop since June 2014

as volatility in Chinese markets fuelled a rout in global equities

and U.S. stockpiles remained more than 120 million barrels above the five-year average.

Saudi Arabian Oil Co., the worlds biggest crude exporter

confirmed on January 8th it was studying options for a share sale

including listinga bundleof refining subsidiaries.”

Today, at 3:30 GMT will be released information about oil inventories in the USA.

It may have a big impact on the oil prices.

The key resistance levels for the bulls are $32.20 and $34.50.

The support levels for Oil are $30 and $28.80.

Yesterday, Gold declined as the metals safe-haven appeal was dampened

amid a recovery in global equity markets.

Today, Gold loses about 0.33% and trades above the level of $1080 Dollars per troy ounce.

As notes, “despite recent losses, gold is up almost 3% since the start of the year as safe-haven demand

has been boosted amid a global stock market rout

worries over the Chinese economy and heightened geopolitical tensions.

The recent turmoil in global financial markets added to scepticism

over the Federal Reserve's ability to raise interest rates as much as it would like this year.”

The key resistance levels for Gold are $1094 and $1100.

The support levels for Gold are $1079.50 and $1075.

On Tuesday, the S&P500 American index closed the day on green area by adding 0.78

thanks to recovery in global equity markets.

This morning, the growth is continuing.

The S&P00 index adds 0.6% and trades a little below of the level of 1950.

We expect that during the day, the bulls will try to reach the following resistance levels: 1978 and 1994 points.

The support levels are 1935 and 1918.

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Thank you and have a good trading day.

The Description of Daily Market News - January 13th, 2016