Gold XAU / USD forecast for the week 28.11 - 02.11.2016
On the new lot of important macroeconomic data will be released trading week. First and foremost it is worth noting a report on employment in the US in November, which will be released on Friday, December 2nd. As we know from the history of exchange trading of gold and the dollar move in opposite phase.
When the dollar will rise an observer strong decline in rates of precious metals. This begs the question: Will the American rate rise?Probably yes! Traders should wait for a positive report on employment and the continuation of the upward trend on the index of the dollar basket. The report on consumer confidence Institute of Michigan in November showed the growth rate up to the maximum in the last six months - the US consumer says confidence in the future. Strengthening of the dollar is likely to continue until the US Federal Reserve meeting, which is scheduled for December 14.
XAU / USD recommendation of the week: Sell 1190/1211 to take profit in 1165.
Brent oil forecast for the week 28.11 - 11.02.2016
Before the OPEC meeting on November 30 in Vienna, two reasons for oil investors should wait for a smooth decrease in prices.
The first reason, in the currency market observed strengthening of the dollar, it is traditionally a negative factor for the stock price of black gold, as energy traded in the US currency.
The second reason, the United States continues to increase oil production, and Russia refuses to make cuts production after the OPEC. Investors are concerned that Russia's policy could force Saudi Arabia to give up production cuts, and agree only to "freeze" that eventually will cause strong sales in the market. Then the bidding will be determined by the outcome of the summit in the Austrian capital. There are two scenarios. The first - the parties could not agree on a reduction of production volume, and we will see a strong decline in prices. The second - the participants of the summit came to a compromise, and we will see a slight increase in oil prices.
Oil recommendations for the week: Sell 49,00 / 50,40 and put take profit 47,90.
S & P500 Index forecast for the week 28.11 - 02.11.2016
"Buy late and too early to sell" - these words can describe the current situation in the US stock market. Why buy later? Because the market is at historical highs, and this is due to lower corporate profits and rising yields on Treasury bonds. The crises in the US economy and the collapse of the stock market in particular, is always held against the background of falling corporate profits and growth rates on government bonds. Investors can at any time begin to take profits on the "Long" and we will see a significant reduction in prices. Why sell sooner? Because America continues to enjoy strong macroeconomic statistics traders and among some market participants expect the growth of corporate profits in the current fourth quarter, and it is based on buying stocks.
S & P500 index recommendations for a week: lateral trade in the range of 2190 -2230.
Aleksandr Goryachev Company Analyst FreshForex