Currencies
- EUR/USD: The pair is trading below its downward trend line on a 60 minute time frame. The next support is at 1.2811 and the next resistance is at 1.3113.
- USD/JPY: The pair is trading above its upward trend line on a 60 minute time frame. The next support is at 103.89 and resistance at 107.12
- GBP/USD: The pair is trading below its downward trend line on a 60 minute time frame. The resistance is near the 1.6560 and the support is at 1.6380.
Indices
- Asian Markets closed mostly higher on the first trading day of the week. The Shanghai Index was the best performing index during the session and it closed higher with a gain of 0.83%. The index is up nearly by 0.82% in the past 5 days.
- European stock markets are trading higher during the early hours of trading. The FTSE MIB Index is the best performing index during the session and it is trading higher with a gain of 0.06%. The index is up by almost 0.29% in the past 5 days.
- US Indices futures are trading higher after the disappointing US NFP data released last week. Most indices closed higher yesterday and the S&P Index was the best performer with a gain of 0.52%.
TOP News
- The Chinese trade balance surpassed the previous reading of 47.3B. The final number was at 49.8B
- The Australian Job Advertisement m/m data came in at 1.5% while the previous reading was at 0.5%.
- Chancellor Osborne is pleading for Scotland to stay in the UK and has offered more tax control along with increase in welfare and spending .
Things to Remember
- Stops are your biggest friends so make sure use them.
Market Sentiment
- VIX: Volatility index dropped nearly -4.35% yesterday.
News Agenda For Today
12:30 GMT
CAD – Building Permits
Trend
The CAD and SEK are trending up against the USD, while the AUD and GBP are trading lower against the USD on an intra-day basis.
Disclosure: 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.