Currencies
Indices
08:30 GMT
GBP – CPI y/y
09:00 GMT
EUR – German ZEW Economic Sentiment
12:30 GMT
CAD – Manufacturing Sales m/m
12:30 GMT
CAD – Manufacturing Sales m/m
USD – Core CPI m/m
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
- EUR/USD- the pair is moving in a sideway pattern on a 30 minute time frame. The price is trading above the 50 day and 100 day moving averages which means that the bulls are in control. The RSI is confirming the above argument.
- USD/JPY- the pair is moving in a sideway pattern on a 30 minute time frame. The RSI shows bias could be to the downside.
- GBP/USD- the pair is moving in a sideway pattern on a 30 minute time frame. The price is trading above the 50day and the 100 day moving averages which confirm some strength for the pair.
Indices
- Asian Markets closed higher yesterday by building up further gains on top of yesterday’s gain. The Nikkei index gained nearly 0.64% and was the best performing index during the Asian session.
- European stocks are also trading up during the early hours of trading today. The IBEX is the best performing index and it is up by almost 0.28%.
- US Indices closed at another record high yesterday. The NASDAQ was the best performer yesterday and closed with a gain of 0.19%
- The Reserve Bank of Australia kept its cash rate target at 2.75% during its minutes which were published today. However, the Reserve Bank of India on the other hand raised two of its interest rate which will support their currency
- According to Maltese Premier Joseph Muscat, there are less chances on any progress will be made on a banking union until after the German election, Bloomberg reported
- US treasury’s Lael Brainard resonated his concern for euro zone and said that the Central Bank should take necessary steps to boost their economies; otherwise fear of stagnations is increasing.
- The housing recovery in the UK is still on track, as the home sellers have increased their asking prices for their houses. The house sellers have been increasing these prices for a consecutive seventh month, according to Right move.
- Stops are your biggest friends so embrace them
- Gold is challenging the $1300 mark level once again and the price action is trading above the 50day and the 100 day moving averages which confirm that the bias could be to the upside.
- Oil- The black bounced from its support on a 30 minute time frame and the bias could still be to the upside.
- VIX- Volatility index dropped by -2.19%.
08:30 GMT
GBP – CPI y/y
09:00 GMT
EUR – German ZEW Economic Sentiment
12:30 GMT
CAD – Manufacturing Sales m/m
12:30 GMT
CAD – Manufacturing Sales m/m
USD – Core CPI m/m
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