Daily Briefing- Asia And Europe Cautious Ahead Of Non-Farm Payroll Data
AvaTrade | Jul 05, 2013 06:11AM ET
- EUR/USD- the pair has broken its support zone (1.2942-1.2916) on a 30 minute time frame. The RSI shows that the bias could be towards the downside.
- USD/JPY- the pair has bounced from its upward trend line on a 30 minute time frame. The RSI shows bias could be to the upside.
- GBP/USD- the pair is trading within its support zone on a 30 minute time frame. The price is trading below the 50day and 100 day moving average which represents that the bears are in control.
Indices
- Asian Markets closed sharply up today by building up further gains on top of yesterday. The Nikkei index gained nearly 2.08% and was the best performing index during the Asian session.
- European stocks are trading lower during the early hours of trading today. The IBEX is the worst performing index and it is down by almost -0.40%.
- US Indices were closed yesterday due to a bank holiday
- The second biggest economy of the world, China suspended the release of its economic data- Purchasing Managers Index because the statistic bureau decided to change the structure for data compiling, Bloomberg reported.
- According to an organization which represents the financial industry in Frankfurt confirmed today that they are predicting that the Central European Bank will get a better deal with the People Bank of China on their swap which is valued four times as compared to last week by the UK.
- Crude Oil has eased from its peak on the back of President Mohamed Mursi’s oust by Egypt’s army.
- Losing is the part of the game that is why you need to have rigid risk management policies in your trading plan.
- Gold is still maintaining its support of 1180-1150 and trying to take its resistance at 1316 level.
- Oil- The black gold has eased off from its peak of $102 and it is moving in a sideway pattern on a 30 minute time frame.
- VIX- Volatility index dropped by -0.89%.
7.15 GMT
CHF – CPI m/m
12.30 GMT
CAD – Employment Change
CAD – Unemployment Rate
USD – Non- Farm Employment Change
USD – Unemployment Rate
14:00 GMT
CAD – Ivey PMI
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.
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by Naeem Aslam
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