Currencies
- EUR/USD: The pair remains under pressure this morning but holding above the 1.24 level. Today’s news includes US Retails Sales @ 13:30 GMT & Consumer Sentiment @ 14:55 GMT. The next support is at 1.2318 and resistance is at 1.2767.
- USD/JPY: The greenback remains strong versus the yen, breaking through the 116 level overnight (Yen @ 7 year low) and remaining above this morning. The next support is at 115.35 and resistance is at 116.90.
- GBP/USD: The pair traded down further overnight, breaking through the support level @ 1.5694 given here yesterday, hitting a low at 1.5656. The next support is seen at the big figure of 1.56 with resistance above 1.57 @ 1.5725.
Indices
- Asian Markets are mixed after a positive close on Wall-Street last night. Nikkei 225 and Hang Seng futures are climbing as much as 0.5% on the session. Japan stock exchange is rising on the back of the weakening Japanese Yen, which trade near seven-year low against the US Dollar. Hong Kong market gains as well, while Shanghai is lower on Friday.
- European indices opened higher after French and German third quarter GDP rise by 0.3% and 0.1% respectively. Futures on DAX and CAC are adding as much as 0.5% following the data showing both economies return to growth.
- Wall-Street closed in positive territory on Thursday, following better than expected earnings report from retail giant Wal-Mart (NYSE:WMT), while Oil prices continue to fall. The NASDAQ added 0.1%, Dow 30 rose by 0.2% and the S&P 500 futures were flat yesterday. Traders will look for important macro data to indicate the direction of the US economy: Retail sales (13:30 GMT) and Consumer Sentiment data (14:55 GMT).
TOP News
- Wal-Mart stock rose by 4.7% to an all-time high after the retail giant reported quarterly profit and its sales exceed analysts’ estimations.
- Crude and Brent Oil Jan’15 futures are trading at 4 years lows as the energy sector continue to weaken this week.
Things to Remember
- Stops are your biggest friends so make sure to use them.
Market Sentiment
- Gold: Having traded in a tight range throughout the day yesterday Gold has initially traded lower this morning touching off the 1150 level. As per yesterday’s commentary support is seen @ 1125 while resistance remains at 1180.
- Crude Oil: The selling pressure does not seem to be abating for Oil, it’s hard to believe that back in June (5 months ago) we were trading above $105, this morning we’re trading just about the $73 level with the big support level of $70 in sight. Support is seen @ 72.2 with resistance at 76.35.
- VIX: The Volatility Index was up yesterday by +5.9% to 13.79.
NEWS – Friday 14/11/2104
13:30 GMT - CAD – Manufacturing Sales m/m
13:30 GMT - USD – Core Retail Sales m/m
13:30 GMT - USD – Retail Sales m/m
14:55 GMT - USD – Prelim UoM Consumer Sentiment
15:30 GMT - USD – Natural Gas Storage
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
Which stock should you buy in your very next trade?
AI computing powers are changing the stock market. Investing.com's ProPicks AI includes 6 winning stock portfolios chosen by our advanced AI. In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. Which stock will be the next to soar?
Unlock ProPicks AI