Daily Briefing
Currencies
- EUR/USD: The pair is trading below its downward trend line on a 240 minute time frame. The next support is at 1.2318 and the next resistance is at 1.2895.
- USD/JPY: The pair is trading above its upward trend line on a 240 minute time frame. The next support is at 109.18 and resistance at 114.28
- GBP/USD: The pair is trading in a rectangular pattern on a 240 minute time frame. The resistance is near the 1.6588 and the support is at 1.5907.
Indices
- Asian Markets closed mostly higher by building their gains on top of yesterday. The Nikkei index was the best performing index during the session and it closed higher with a gain of 2.73%%. The index is down nearly by 0.34% in the past 5 days.
- European stock markets are trading higher during the early hours of trading. The FTSE MIB index is the best performing index during the session and it is trading higher with a gain of 0.38%. The index is up by almost 0.29% in the past 5 days.
- US Indices futures are trading flay ahead of ISM manufacturing data. Most indices closed higher on Friday and the NASDAQ index was the best performer with a gain of 1.42%.
TOP News
- The Australian Retail sales m/m data surpassed the previous reading of 0.1%. The final reading was at 1.2%
- The Japanese final manufacturing data did not match the previous reading of 52.8. The final reading was much lower with the number of 52.4
- The Australian central bank maintained their cash rate of 2.50%.
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Things to Remember
- Stops are your biggest friends so make sure use them.
Market Sentiment
- Gold: The precious metal under tremendous selling pressure and most of the technical indicators are giving oversold signals. The support is at 1150 and the resistance is at 1200.
- Crude Oil: The black gold is selling off once again and the trading below the 50day and 100 day moving average on a 30 minute time frame. The next resistance is at 85 and the support is at 75
- VIX: Volatility index gained nearly 4.99% yesterday.
News Agenda For Today
08:00 GMT
EUR – Spanish Unemployment Change
09:30 GMT
GBP – Construction PMI
13:30 GMT
CAD – Trade Balance
13:30 GMT
USD – Trade Balance
Tentative
NZD – GDT Price Index
21:45 GMT
NZD – Employment Change q/q
21:45 GMT
NZD – Unemployment Rate
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.