US Futures Higher Ahead Of Key Data
AvaTrade | May 27, 2015 05:06AM ET
Daily Briefing
Currencies
- EUR/USD: The pair is trading in a support zone (1.0995-1.0949) on a 60 minute time frame. The next resistance is at 1.1326 and the support is at 1.0949.
- USD/JPY: The pair is moving in a sideway pattern on a time frame. The next support is at 118.35 and resistance at 121.18.
- GBP/USD: The pair is trading above its upward trend line on a 30 minute time frame. The resistance is near the 1.5552 and support is at 1.5161.
Indicators
Indices
- Asian Markets closed higher bu building up their gains on top of yesterday. The Shanghai index was the best performing index during the session and it closed higher with a gain of 2.02%. The index is down nearly by 10.36% in the past 5 days.
- European futures markets are trading lower during the early hours of trading. The FTSE index is the worst performing index during the session and it is trading lower with a loss of 0.64%. The index is up by almost 3.05% in the past 5 days.
- US futures are trading lower ahead of the core durable data. Most indices closed lower during the last session and the S&P index was the worst performer with a loss of 0.23%.
TOP News
- The Australian M1 leading m/m data came in at 0.1 while the previous reading was at -0.3%.
- The Australian construction work done fell below the expectation with reading of -2.4%. The forecast was for -1.5%
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 30minute time frame. The next support is near the 1180 and the next resistance is near the 1235.
- Crude Oil: The black is suffering some heavy selling pressure on a 30 minute. The near term support is at the $56 mark and the resistance is at 62.
- VIX: Volatility index gained nearly 15.91% on the last trading day.
Top Economic data
15:00 BST CAD BOE rate statement
15:00 BST CAD overnight rate
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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