European Markets Lower; German Inflation Data In Focus
AvaTrade | Sep 29, 2014 08:09AM ET
Daily Briefing
Currencies
- EUR/USD: The pair is trading below its downward trend line on a 60 minute time frame. The next support is at 1.2652 and the next resistance is at 1.28.
- USD/JPY: The pair is trading above its upward trend line on a 60 minute time frame. The next support is at 108.233 and resistance at 110
- 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 1.6246.
Indices
- Asian Markets closed mostly lower on the first trading of the week. The Hang Seng index was the worst performing index during the session and it closed lower with a loss of 1.99%. The index is down nearly by 2.35% in the past 5 days.
- European stock markets 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 0.70%. The index is up by almost 1.04% in the past 5 days.
- US Indices futures are trading lower ahead of the pending home sales data. Most indices closed higher on Friday and the NASDAQ index was the best performer with a gain of 1.01%.
TOP News
- The Spanish Flash CPI data came in at -0.2% while the forecast was at -0.3%
- Street violence in Hong kong has rattled the asian markets and has pushed the Hang Seng lower.
- Bill Gross the founder and the CEO of Pimco has left the company.
Things to Remember
- Stops are your biggest friends so make sure use them.
Market Sentiment
- Gold: The precious metal is moving in a rectangular pattern on a 60 minute time frame and the near term support is at 1200 while the resistance is at 1240.
- Crude Oil: The black gold is trading above its upward trend line on a 30 minute time frame and the support of $90 is in focus. The resistance is at 94.
- Volatility S&P 500: Volatility index dropped nearly 5.08% yesterday.
NEWS Agenda For Today
12:30 GMT
USD – GDP q/q Data
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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