Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

U.S. Futures Trading Lower Ahead Of ECB Meeting

Published 11/06/2014, 06:19 AM
Updated 02/02/2022, 05:40 AM

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 115.50
  • 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 lower by erasing their gains from yesterday. The Nikkei index was the worst performing index during the session and it closed lower with a loss of 0.87%%. The index is down nearly by 0.34% in the past 5 days.
  • European stock markets are trading lower during the early hours of trading. The IBEX index is the worst performing index during the session and it is trading lower with a loss of 0.79%. The index is up by almost 0.29% in the past 5 days.
  • US Indices futures are trading flat ahead of ISM manufacturing data. Most indices closed higher yesterday and the S&P 500 index was the best performer with a gain of 0.59%.

TOP News

  • The Australian employment change data surpassed the previous reading of -23.7K. The final reading was at 24.1K
  • The German factory data came in at 0.8% which was stronger than the previous reading of -4.2%.
  • The UK manufacturing production came much stronger than the forecast with the reading of 0.4% while the forecast was at 0.3%.

Things to Remember

  • Stops are your biggest friends so make sure use them.

Market Sentiment

  • Gold: The precious metal has bounced slightly up today as most of the technical indicators are giving oversold signals. The support is at 1100 and the resistance is at 1180.
  • Crude Oil: The black gold has also bounced back after challenging its support of 75. The next resistance is at 85 and the support is at 75
  • VIX: Volatility index dropped nearly 4.84% yesterday.

News Agenda For Today

09:30 GMT

GBP - Manufacturing PMI m/m

12:00 GMT

GBP - Official Bank Rate

12:45 GMT

EUR - Minimum Bid Rate

13:30 GMT

USD - Unemployment Claims

CAD - Building Permits m/m

15:00 GMT

CAD - Ivey PMI

15:30 GMT

USD - Natural Gas Storage

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.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.