Daily Briefing
Currencies
- EUR/USD: The pair is trading below its downward trend line on a 240 minute time frame. The next support is at 1.2318 and the next resistance is at 1.2895.
- USD/JPY: The pair is trading above its upward trend line on a 240 minute time frame. The next support is at 109.18 and resistance at 115.50
- GBP/USD: The pair is trading in a rectangular pattern on a 240 minute time frame. The resistance is near the 1.6588 and the support is at 1.5907.
Indices
- Asian Markets closed mostly lower by erasing their gains from yesterday. The Nikkei index was the worst performing index during the session and it closed lower with a loss of 0.87%%. The index is down nearly by 0.34% in the past 5 days.
- European stock markets are trading lower during the early hours of trading. The IBEX index is the worst performing index during the session and it is trading lower with a loss of 0.79%. The index is up by almost 0.29% in the past 5 days.
- US Indices futures are trading flat ahead of ISM manufacturing data. Most indices closed higher yesterday and the S&P 500 index was the best performer with a gain of 0.59%.
TOP News
- The Australian employment change data surpassed the previous reading of -23.7K. The final reading was at 24.1K
- The German factory data came in at 0.8% which was stronger than the previous reading of -4.2%.
- The UK manufacturing production came much stronger than the forecast with the reading of 0.4% while the forecast was at 0.3%.
Things to Remember
- Stops are your biggest friends so make sure use them.
Market Sentiment
- Gold: The precious metal has bounced slightly up today as most of the technical indicators are giving oversold signals. The support is at 1100 and the resistance is at 1180.
- Crude Oil: The black gold has also bounced back after challenging its support of 75. The next resistance is at 85 and the support is at 75
- VIX: Volatility index dropped nearly 4.84% yesterday.
News Agenda For Today
09:30 GMT
GBP - Manufacturing PMI m/m
12:00 GMT
GBP - Official Bank Rate
12:45 GMT
EUR - Minimum Bid Rate
13:30 GMT
USD - Unemployment Claims
CAD - Building Permits m/m
15:00 GMT
CAD - Ivey PMI
15:30 GMT
USD - Natural Gas Storage
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.