U.S. Futures Lower Ahead Of Unemployment Data
AvaTrade | Mar 06, 2015 06:02AM ET
Currencies
- EUR/USD: The pair is trading below its downward trend line on a 30 minute time frame. The next resistance is at 1.1191 and the support is at 1.0852.
- USD/JPY: The pair fell from its resistance zone (120.45-120.33) on a 30 minute time frame. The next support is at 118.71 and resistance at 120.45
- GBP/USD: The pair is trading in a support zone (1.5230-1.5206) on a 30 minute time frame. The resistance is near the 1.5565 and support is at 1.5204.
Indicator
- Asian Markets closed sharply higher on the final trading day of the week. The Nikkei is the best performing index during the session and it closed higher with a gain of 1.17%. The index is up nearly by 2.02% in the past 5 days.
- European stock futures are trading higher during the early hours of trading. The FTSE 100 index is the best performing index during the session and it is trading higher with a gain of 0.08%. The index is up by almost 0.84% in the past 5 days.
- US futures are also trading higher ahead of the US NFP jobs data. Most indices closed higher during the last session and the NASDAQ index was the best performer with a gain of 0.32%.
- The German industrial production m/m data came in at 0.6% while the previous reading was at 1.0%
- The French trade balance also came in at -3.7B while the forecast was for -3.0B.
- The Swiss CPI m/m data fell short of expectations with the number of -0.3% while the previous reading was at -0.4%
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 30 minute time frame. The next support is near the 1140 and the next resistance is near the 1230.
- Crude Oil: The black gold is trading above its upward trend line on a 30 minute time frame. The near term support is at the $46.0 mark and the resistance is at 55.10.
- CBOE Volatility Index: Volatility index dropped nearly -1.34% on the last trading day.
08:00 GMT CHF – Foreign Currency Reserves
13:30 GMT CAD – Building Permits m/m
Get The News You Want
13:30 GMT CAD – Trade Balance
13:30 GMT USD – Non-Farm Employment Change
13:30 GMT USD – Unemployment Rate
h3 Trends/h3The SEK and DKK are trading higher against the USD and the EUR and NZD are trading lower against the USD.
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
/h2
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.