Asian And European Markets Start The Week With Deep Losses
AvaTrade | Jun 24, 2013 05:16AM ET
- EUR/USD - the pair is trading below the 50 and 100 day moving averages on a 30 minute time frame. The RSI shows that the bias is towards the upside.
- USD/JPY - the pair has formed an ascending triangle on a 30 minute time frame. The RSI shows bias could be to the upside.
- GBP/USD - the pair has broken its support zone on a 30 minute time frame. The price is trading below the 50 and 100 day moving averages, which represent further weakness for the pair.
Indices
- Asian Markets started the week in a deep red territory. The Shanghai index lost nearly 4.92%, and was the worst performing index during the Asian session.
- European stocks are also building up further losses during today's early trading hours. The FTSE MIB is the worst performing index, and is down by almost 1.89%.
- U.S. Indices closed mixed on Friday. The S&P 500 was the best performer, closing with a gain of 0.24%
- The Deputy Finance Minister of South Korea today confirmed that the country is going to tighten its grip by monitoring the banks liquidity, and will also reduce bond sales volume in July, Bloomberg reported
- Due to air pollution, Malaysia has declared a state of emergency in certain areas of the country. The air pollution was caused due to the burning of forests.
- The Bank of England and People's Bank of China finally reached an agreement today for a three year currency swap line, Bloomberg reported.
- Warren Buffet : Never lose money. Rule No.2: Never forget rule No.1.
- Gold is trading firmly below the $1300 level; the price action has not broken its support of 1260-1270 yet.
- Oil - The black gold also fell sharply as commodity selloff occupied the stage. The price action could still push Crude oil further down towards its next support zone of 91.81-91.31
- VIX- Volatility index dropped by -7.76% on Tuesday.
0800 GMT
EUR – German IFO Business Climate
Trend
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