European Markets Up After Upbeat German Data
AvaTrade | Dec 16, 2014 06:54AM ET
Daily Briefing
Currencies
- EUR/USD: The pair is trading above its upward trend line on a 30 minute time frame. The next support is at 1.2238 and the next resistance is at 1.2607.
- USD/JPY: The pair is trading below its downward trend line on a 30 minute time frame. The next support is at 115.42 and resistance at 118.66
- GBP/USD: The pair is trading in a rectangular pattern on a 30 minute time frame. The resistance is near the 1.5904 and the support is at 1.5457
Indices
- Asian Markets closed lower by building on their losses on top of yesterday. The Nikkei 225 index was the worst performing index during the session and it closed lower with a loss of 2.01%. The index is down nearly by 2.86% in the past 5 days.
- European stock markets are trading higher during the early hours of trading. The FTSE MIB index is the best performing index during the session and it is trading higher with a gain of 1.33%. The index is down by almost 8.58% in the past 5 days.
- US Indices futures are trading higher but traders are cautious ahead of the building permits this week. Most indices closed yesterday and the NASDAQ index was the worst performer with a loss of 1.04%.
Indicators
TOP News
- The Chinese HSBC flash manufacturing PMI data came in at 52.1 while the forecast was 52.3. The previous streaming was at 52.
- The French Flash manufacturing PMI data fell short of expectations with the reading of 47.9 while the forecast was for 48.7
- The German Flash manufacturing PMI on the other hand printed much better reading of 51.2 while the forecast was for 50.4
Things to Remember
Manage your stops and dot let your winners turn into losers.
Market Sentiment
- Gold: The precious metal is trading below its downward trend line on a 30 minute time frame. The support is near the 1180 and the next resistance is near the 1240.
- Crude Oil: The black gold has made another low of 54.30 on a 30 minute time frame. The near term support is at the $50 mark and the resistance is at 60.
- VIX: Volatility index dropped nearly 3.13% yesterday.
News Agenda For Today
08:00 EUR GMT French Flash Manufacturing PMI
Get The News You Want
08:30 EUR GMT German Flash Manufacturing PMI
09:15 GBP GMT BOE Gov Carney Speaks
09:30 GBP GMT CPI Y/Y
10:00 EUR GMT German ZEW Economic Sentiment
13:30 USD GMT Building Permits
Trend
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