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Mixed Sentiments in Market Amid Upcoming U.S Congressional Elections & FOMC Meet

By Research Team Monday, Nov 5, 2018
FOREX

NZD/USD Outlook

    • 1.35PM ISTD1
    • High0.66625
    • Low0.66314
    • Close0.66573

NZD/USD is trading at 0.66525 making day-high of 0.66625 & day-low of 0.66314. The Kiwi gained the momentum due to firm USD on account of mixed global cues like ongoing U.S-Sino trade war, Brexit & Italian issue, impending U.S Congressional Elections & upcoming FOMC meet. In New Zealand, the ANZ Commodity Prices remained constant at -2.4% same as previous figure. Last week, the ANZ Business Confidence fell by 37.1 against the previous negative figure 38.3 & the Building Consents reduced by 1.5% versus 6.8% in the previous month. The RBNZ is to schedule its meeting in the next week focusing on interest rate decision. The cautious trading may be recommended for the day in NZD/USD

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Special Outlook

NZD/USD

Intra Day
Near Day

Technical Levels

R3 0.67670
R2 0.67113
R1 0.66787
Turnaround 0.66556
S1 0.66230
S2 0.65999
S3 0.65443
By Research Team Monday, Nov 5, 2018
COMMODITY

SILVER Outlook

    • 2.10PM ISTD1
    • High14.749
    • Low14.66600
    • Close14.736

Silver is trading at $14.743 making day-high of $14.745 & day-low of $14.66. The tight range can be seen in the Silver prices due to mixed global cues. Last week, the U.S efforts towards easing down U.S-China trade tensions by signing a trade agreement with China in an upcoming G20 summit turned positive for metals & negative for USD. Besides this, the global cues like FOMC rate hike decision, ongoing U.S-Sino trade war, Brexit political issue & upcoming U.S Congressional Elections issue cushioned the precious metals. The result of U.S ISM Non-Manufacturing PMI will remain in focus today. Wait & watch strategy may be adopted in Silver as it is trading sideways.

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Special Outlook

SILVER

Intra Day
Near Day

Technical Levels

R3 15.27900
R2 15.01400
R1 14.86400
Turnaround 14.74900
S1 14.60200
S2 14.48400
S3 14.21900
By Research Team Monday, Nov 5, 2018
INDICES

UK100 Outlook

    • 1.50PM ISTD1
    • High7077
    • Low7050
    • Close7054

UK100 is trading at 7058  making a day-high of 7077 & day low of 7050. The selling pressure resumed in the early trade on Monday in global indices as Chinese President Xi Jinping announced lower tariffs on U.S imports. In last week, the decision of continuation of providing financial services from EU to U. K post Brexit boosted the index. On the data front, the Construction PMI climbed to 53.2 from 52.1 in the previous month turning positive for UK100. The Bank of England (BoE) left an interest rate steady at 0.75% as expected failing to create any major effect on an index. Upcoming event of Brexit deal on November 21 will remain vital for UK100. Buying on dips may be recommended for the week.

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Special Outlook

UK100

Intra Day
Near Day

Technical Levels

R3 7346.00000
R2 7222.00000
R1 7152.00000
Turnaround 7098.00000
S1 7028.00000
S2 6974.00000
S3 6850.00000