U.S. Futures Lower Ahead Of PMI Data
AvaTrade | Apr 01, 2015 07:42AM ET
Currencies
- EUR/USD: The pair is trading below the downward trend line on a 30 minute time frame. The next resistance is at 1.09 and the support is at 1.051.
- USD/JPY: The pair is trading below its downward trend line on a 30 minute time frame. The next support is at 118.38 and resistance at 120.16
- GBP/USD: The pair has moved sharply lower after the economic data on a 30 minute time frame. The resistance is near the 1.4867 and support is at 1.4719
Indicator
Indices
- Asian Markets closed mostly higher by building gains on top of yesterday. The Hang Seng index is the best performing index during the session and it closed higher with a gain of 0.73%. The index is up nearly by 2.02% in the past 5 days.
- European stock futures are trading higher during the early hours of trading. The CAC 40 index is the best performing index during the session and it is trading higher with a gain of 0.86%. The index is up by almost 0.84% in the past 5 days.
- US futures are also trading lower ahead of the PMI data. Most indices closed lower during the last session and the Dow index was the worst performer with a loss of 1.11%.
TOP News
- The Chinese manufacturing PMI data printed much better reading of 50.1 as compared to the forecast of 49.7
- The UK manufacturing data came below the expectation of 54.5 while the forecast was for 54.4.
- The Italian manufacturing PMI came in at 53.3 when the previous reading was at 51.9
Things to Remember
Stop loss is your biggest friend so make sure you use it
Market Sentiment
- Gold: The precious metal is trading below its downward trend line on a 30 minute time frame. The next support is near the 1140 and the next resistance is near the 1230.
- Crude Oil: The black gold is trading below its downward trend line on a 30 minute time frame. The near term support is at the $46.0 mark and the resistance is at 48.50.
- VIX: Volatility index dropped nearly 4.62% on the last trading day.
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