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US Futures Lower Ahead Core PCE Price Data

ByAvaTrade
AuthorAvaTrade
Published 04/29/2016, 05:02 AM
Updated 02/02/2022, 05:40 AM

Currencies

  • EUR/USD: The pair is trading above its upward trend line on a 4 hour time frame. The next support is near the 1.1058 level and the resistance is at 1.1581.

  • USD/JPY: The pair has pierced the lower band of the Bollinger band on a 4 hour time frame. The near term support is at 106.17 and the resistance is at 113.73.

  • GBP/USD: The pair is trading above its 50 (1.4456) and 100 (1.4315) day moving average on a 4 hour time frame. The next resistance is at 1.4844 and the support is 1.4121.

Indicators

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Indices

  • Asian markets closed mostly lower on the final trading of the week. The Nikkei index was the best performer during the session and it closed lower with a loss of 3.61%.

  • European futures are trading lower during the early hours of trading. The CAC40 index is trading lower with a loss of 1.38%.

  • The US markets are trading lower ahead of the core PCE price index data. The NASDAQ index was the worst performer on the last trading day with a loss of 1.19%.

Top News

  • The New Zealand, ANZ business confidence data came in at 6.2 while the previous reading was at 3.2.

  • The Australian PPI q/q data came in at -0.2%, in contrast to the previous reading of 0.3%.

Market Sentiment

  • Crude Oil: The black gold is trading above the 50 day (43.78) moving averages on a 4 hour time frame. The next support is near the 42.50 and the resistance is 50.02.

  • Gold: The precious metal has broken its 50 day moving average (1236.61) towards the upside on a 4 hour time frame. The next resistance is at 1300 and the support is at 1230.

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

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Top Economic data

Trend Chart

By Naeem Aslam

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