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US Futures Higher Ahead Of Core Retail Sales Data

ByAvaTrade
AuthorAvaTrade
Published 04/13/2016, 07:13 AM
Updated 02/02/2022, 05:40 AM

Currencies

  • The pair is trading in an upward channel on a 4 hour time frame. The next support is near the 1.1141 level and the resistance is at 1.1495.

  • USD/JPY: The pair has broken is trading below its downward trend line on a 4 hour time frame. The near term support is at 106 and the resistance is at 110.74.

  • GBP/USD: The pair is trading below its 50 (1.4179) and 100 (1.4212) day moving average on a 4 hour time frame. The next resistance is at 1.4467 and the support is 1.3896.

Indicators

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Indices

  • Asian markets closed mostly higher by adding to their gains on top of yesterday. The Hang Seng Shanghai index was the best performer during the session and it closed higher with a gain of 2.66%.

  • European futures are trading higher during the early hours of trading. The FTSE MIB index is trading higher with a gain of 1.93%.

  • The US markets are trading higher ahead of the Core retail sales data. The DOW index was the best performer on the last trading day with a gain of 0.94%.

Top News

  • The Chinese trade balance data came in at 195B while the previous reading was at 210B.

  • The Euro zone French final CPI m/m data came in at 0.7% in contrast to the previous reading of 0.7%.

Market Sentiment

  • Crude Oil: The black gold is trading above the 100 day (38.83) but below the 50 day (38.18) moving averages on a 4 hour time frame. The next support is near the 36.06 and the resistance is 42.91.

  • Gold: The precious metal has broken its 50 day moving average (1235.61) towards the upside on a 4 hour time frame. The next resistance is at 1260 and the support is at 1179.

  • The VIX index dropped by 9.32% during the last session.

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by Naeem Aslam

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