Currencies
Indices
- EUR/USD - the pair is moving in an upward channel on a 30 minute time frame. The price is trading above the 50 and 100 day moving averages.
- USD/JPY - the price has broken the descending triangle on a 30 minute time frame. The downward trend is becoming stronger as the price is below the 50 and 100 day moving averages.
- GBP/USD - the price is trading in a resistance zone on a 30 minute time frame. The price could see a pause or change of trend, as the pair has pierced the Bollinger band® at this level too.
Indices
- Asian Markets closed with deep losses on Thursday. The Shanghai index plunged by -1.27%, and was the worst performing index during the Asian session.
- European stocks are trading mixed during the early hours of trading. The IBEX 35 is best performing index and is up by almost 0.59%.
- U.S. Indices closed lower yesterday. The S&P 500 was the worst performer, closing with a loss of -1.37%
- European commission has backed up Latvia in joining the euro in 2014. However, the final decision will be made by finance ministers on July 9.
- Most economists are predicting that the European Central bank will leave their bench mark interest rate unchanged at their policy meeting today.
- The Bank of England is also expected to keep its asset purchase program unchanged in their policy meeting today, a Bloomberg survey revealed.
- Never Move stops down in a losing position, this state of emotion destroys trading discipline.
- Gold is firmly below the $1400, and the price action is struggling for direction. hHowever, the technical shows that the bias could be to the downside.
- Oil - The black gold has recovered from its earlier losses and it is trading up during the early hours of trading. The price is moving in a sideways pattern on a 4 hour time frame.
- VIX - Volatility index increased by 7.56% on Friday.
News Agenda For Today
07.15 GMT
CHF - CPI m/m
11.00 GMT
GBP - Asset Purchase Facility
GBP - Official Bank Rate
11.45 GMT
EUR - Minimum Bid Rate
12.30 GMT
EUR - ECB Press Conference
USD - Unemployment Claims
12.45 GMT
CAD - BOC Gov Poloz Speaks
14.00 GMT
CAD - Ivey PMI
Trend
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