US Futures Focused On ISM Manufacturing PMI Data
AvaTrade | Jul 01, 2015 04:27AM ET
Daily Briefing
Currencies
- EUR/USD: The pair is trading above its uptrend line on a 30 minute time frame. The next resistance is at 1.1288 and the support is at 1.0963.
- USD/JPY: The pair has broken its wedge pattern towards the downside on a 30 minute time frame. The next support is at 121.67 and resistance at 125.85.
- GBP/USD: The pair is trading below its 50 day but above its 100 day moving average on a 30 minute time frame. The resistance is near the 1.6030 and support is at 1.5448
Indicators
Indices
- Asian Markets closed mostly higher by adding to their 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 1.49%. The index is down nearly by 2.30% in the past 5 days.
- European futures are trading lower during the early hours of trading. The DAX index is the worst performing index during the session and it is trading lower with a loss of 0.40%. The index is down by almost 3.55% in the past 5 days.
- US futures are trading lower ahead of the ISM manufacturing PMI data. Most indices closed higher during the last session and the NASDAQ index was the best performer with a gain of 0.58%.
TOP News
- Greece has finally defaulted on its debt and no payment was made to the IMF
- Iran extends its nuclear talk with global powers
Things to Remember
Use your stops and manage the risk
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 1160 and the next resistance is near the 1190.
- Crude Oil: The black gold is under heavy selling pressure on a 30 minute. The near term support is at the $57 mark and the resistance is at 63.
- VIX: Volatility index dropped nearly 3.29% on the last trading day.
Top Economic data
09:30 GBP Manufacturing PMI/ BOE Gov Speaks
12:15 USD ADP employment report
All Day Euro group meeting
15:00 USD ISM Manufacturing PMI
Trends
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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.
by Naeem Aslam
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