US Futures Lower Ahead Core PCE Price Data
AvaTrade | Apr 29, 2016 05:02AM ET
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EUR/USD: The pair is trading above its upward trend line on a 4 hour time frame. The next support is near the 1.1058 level and the resistance is at 1.1581.
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USD/JPY: The pair has pierced the lower band of the Bollinger band on a 4 hour time frame. The near term support is at 106.17 and the resistance is at 113.73.
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GBP/USD: The pair is trading above its 50 (1.4456) and 100 (1.4315) day moving average on a 4 hour time frame. The next resistance is at 1.4844 and the support is 1.4121.
h3 Indices/h3
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Asian markets closed mostly lower on the final trading of the week. The Nikkei index was the best performer during the session and it closed lower with a loss of 3.61%.
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European futures are trading lower during the early hours of trading. The CAC40 index is trading lower with a loss of 1.38%.
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The US markets are trading lower ahead of the core PCE price index data. The NASDAQ index was the worst performer on the last trading day with a loss of 1.19%.
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The New Zealand, ANZ business confidence data came in at 6.2 while the previous reading was at 3.2.
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The Australian PPI q/q data came in at -0.2%, in contrast to the previous reading of 0.3%.
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Crude Oil: The black gold is trading above the 50 day (43.78) moving averages on a 4 hour time frame. The next support is near the 42.50 and the resistance is 50.02.
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Gold: The precious metal has broken its 50 day moving average (1236.61) towards the upside on a 4 hour time frame. The next resistance is at 1300 and the support is at 1230.
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The VIX index dropped by 9.32% during the last session.
By Naeem Aslam
/h3
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