Daily Briefing
Currencies
- EUR/USD: The pair is trading below the downward trend line on a 60 minute time frame. The next support is at 1.3318 and the next resistance is at 1.3631.
- USD/JPY: The pair is trading above its upward trend line on a 60 minute time frame. The next support is at 100.99 and resistance at 102.23
- GBP/USD: The pair is trading below the downward trend line on a 60 minute time frame. The resistance is near the 1.7126 and the support is at 1.6918.
Indices
- Asian Markets closed mostly lower on the final trading day of the week.The Hang Seng index was the worst performing index during the session with a loss of 0.97%. The index is up nearly by 2.02%% in the past 5 days.
- European stock markets are trading lower during the early hours of trading. The CAC 40 index was the worst performing index yesterday. The index is down by almost 3.73% in the past 5 days.
- US Indices futures are trading lower ahead of the NFP employment data. Most indices closed lower yesterday and the Dow 30 was the worst performer with a loss of 1.18%.
TOP News
- The Chinese manufacturing data came in at 51.7% while the previous reading was at 51.0%.
- The Australian PPI data fell short of expectations with the final number of -0.1%.
- The Chinese HSBC manufacturing PMI data came in at 51.7.% while the forecast was for 52%.
Things to Remember
- Trade the trend not the expectations
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Market Sentiment
- Gold: The precious metal is trading below the $1300 mark once again and the next support is near the 1260 level and the resistance is at 1340
- Crude Oil: The black gold is trading above the 50day but below 100 day moving average on a 30 minute time frame. The next resistance is at 103.40 and the support is at 100
- VIX: Volatility index surged nearly 5.73% yesterday.
News Agenda For Today
12:15 GMT
USD – Non-Farm Employment Change & Unemployment Rate
Trend
The SEK/USD and CAD are trending up against the USD, while the EUR and AUD are trading lower against the USD on an intra-day basis.
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