U.S. Futures Lower Ahead Of PPI Data
AvaTrade | Apr 14, 2015 07:33AM ET
Daily Briefing
Currencies
- EUR/USD: The pair is trading near the support zone (1.0732-1.0711) on a 30 minute time frame. The next resistance is at 1.108 and the support is at 1.071.
- USD/JPY: The pair is in a correction mode on a 30 minute time frame. The next support is at 118.38 and resistance at 121.18
- GBP/USD: The pair is trading below its downward trend line on a 30 minute time frame. The resistance is near the 1.4846 and support is at 1.4526
Indicator
Indices
- Asian Markets closed mostly lower by erasing some of their gains from yesterday. The Hang Seng index was the worst performing index during the session and it closed lower with a loss of 1.63%. The index is up nearly by 10.36% in the past 5 days.
- European indices futures are trading lower during the early hours of trading. The FTSE MIB index is the worst performing index during the session and it is trading lower with a loss of 1.26%. The index is up by almost 3.05% in the past 5 days.
- US futures are also trading lower ahead of the economic data. Most indices closed lower during the last session and the Dow index was the worst performer with a loss of 0.45%.
TOP News
- The Chinese new home sales data came in at 1180B while the forecast was for 1050B.
- The UK PPI data came in much better than the forecast of -0.5%. The reading was at 0.3%.
- The UK CPI y/y data matched the forecast of 0.0%.
Things to Remember
Stop loss is your biggest friend so make sure you use it
Market Sentiment
- Gold: The precious metal is trading below the 1200 level on a 30 minute time frame. The next support is near the 1180 and the next resistance is near the 1240.
- Crude Oil: The black gold has spiked up on a 30 minute time frame. The near term support is at the $51.50 mark and the resistance is at 54.
- VIX: Volatility index dropped nearly -3.90% on the last trading day.
News Agenda For Today
08:30 GMT
GBP – CPI y/y
12:30 GMT
USD – Core Retail Sales m/m, USD – PPI m/m
USD – Retail Sales m/m
Trends
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