Currencies
A busy day expected within the currency markets today with Spanish & French Bond auctions this morning followed by the BOE’s rate setting meeting @ 12.00, ECB’s @ 12:45 & press conference @ 13:30, US Advanced GDP & Unemployment Claims also @ 13:30 GMT.
Indices
12:00 GMT
GBP– Official Bank Rate
12:00 GMT
GBP– Asset Purchase Facility
Tentative
GBP– MPC Rate Statement
12:45 GMT
EUR– Minimum Bid Rate
13:30 GMT
EUR – ECB Press Conference
13:30 GMT
USD – Advance GDP q/q
13:30 GMT
USD – Unemployment Claims
15:30 GMT
USD – Natural Gas Storage
19:00 GMT
EUR – ECB President Draghi Speaks
Disclosure & Disclaimer: The above is for informational purposes only and NOT to be construed as specific trading advice. responsibility for trade decisions is solely with the reader.
by Naeem Aslam
A busy day expected within the currency markets today with Spanish & French Bond auctions this morning followed by the BOE’s rate setting meeting @ 12.00, ECB’s @ 12:45 & press conference @ 13:30, US Advanced GDP & Unemployment Claims also @ 13:30 GMT.
- EUR/USD – Trading above its 20, 50 & 200 day Simple Moving Average’s on a 30 minute timeframe and the RSI is bullish signaling a possible move towards short term resistance at the 1.3560 -1.3570 & 1.36 level.
- GBP/USD – Trading at 1.6085 at the time of writing, approximately in line with its 20 & 50 day Simple Moving Average’s on a 30 minute timeframe, the pound remains on an upward trend with Support seen @ 1.6050.
- USD/JPY – Trading above its 20, 50 & 200 day Simple Moving Average’s on a 30 minute timeframe, the Trend still remains up and resistance @ 99.00 should be tested over the next few trading days.
Indices
- Asian Markets bearish on Thursday morning. The Nikkei index fell nearly 0.86% while MSCI Taiwan Index trading at 0.27% down.
- With the European Central Bank Decision coming up later in the day European markets are slightly down with only DAX 30 showing a small uptrend of 0.1%
- U.S. Indices are flat ahead the nonfarm payrolls and the July-September GDP data. This could be a volatile day with all the major news coming up but for the time being traders remain cautious.
- The ECB and the Bank of England are expected to keep their interest rates and policies unchanged according to analysts estimations.
- Twitter has raised 1.82 billion Dollars via its IPO, valuing the company at $ 14.2 billion. The micro blogging Stock was issued at a price of $ 26, above the expected target range of the IPO, that was raised last week from 17-20 to 23-25 per share per share. The stock will be available for trading at 14:30 GMT on AVA platforms.
- US GDP for the 3rd quarter is forecasts to show that the US economy has expanded by 2% in October following 2.5% in September. Weekly jobless claim will also be published at 13:30 ahead of tomorrow’s monthly job reports.
- The unemployment rate in Australia remained unchanged at 5.7%.
- The Trend is your friend.
- Gold – The precious metal remains below its ST resistance of $1328 and has yet to test the $1300 level, a break of $1328 opens up a move towards the $1360 level, below $1300 the target would be $1275.
- Crude Oil – Black Gold is rebounding from the $93 Level hit on Tuesday with $96 seen as the next Resistance Level.
- VIX- Volatility Index decreased by 4.52% to 12.67.
12:00 GMT
GBP– Official Bank Rate
12:00 GMT
GBP– Asset Purchase Facility
Tentative
GBP– MPC Rate Statement
12:45 GMT
EUR– Minimum Bid Rate
13:30 GMT
EUR – ECB Press Conference
13:30 GMT
USD – Advance GDP q/q
13:30 GMT
USD – Unemployment Claims
15:30 GMT
USD – Natural Gas Storage
19:00 GMT
EUR – ECB President Draghi Speaks
Disclosure & Disclaimer: The above is for informational purposes only and NOT to be construed as specific trading advice. responsibility for trade decisions is solely with the reader.
by Naeem Aslam