US Futures Trade Lower Ahead Of Durable Goods Data
AvaTrade | Aug 26, 2014 06:44AM ET
Currencies
- EUR/USD: The pair is trading below the 50 day and 100 day moving average on a 60 minute time frame. The next support is at 1.3250 and the next resistance is at 1.3521.
- USD/JPY: The pair is trading above its upward trend line on a 60 minute time frame. The next support is at 102.73 and resistance at 104.70
- GBP/USD: The pair is trading below its downward trend line on a 60 minute time frame. The resistance is near the 1.6742 and the support is at 1.6497.
Indicators
Indices
- Asian Markets closed lower by erasing some of their gains which were made yesterday. The Shanghai Composite is the worst performing index during the session and it closed lower with a loss of 1.00%. The index is trading low by 1.45% in the past 5 days.
- European stock markets 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 0.34%. The index is up by almost 2.45% in the past 5 days.
- US Indices futures are trading lower after ahead of the durable good data. Most indices closed higher yesterday and the S&P 500 index was the best performer with a gain of 0.48%.
TOP News
- The Chinese CM Leading index data matched the previous reading of 1.3%
- The UK’s BBA Mortgage approvals data fell short of expectations with the reading of 42.8K. The forecast was 44.2K while the previous reading was at 43.2K.
- Ukraine is claiming that they have captured a Russian soldier and this is ahead of the peace talks between the two countries .
Things to Remember
- Trade the trend as it is your only friend
Market Sentiment
- Gold: The precious metal is trading below the 1300 mark and the near term support is near the 1270 and the resistance remains at 1320.
- Crude Oil: The black gold has formed a symmetrical triangle pattern on 6o minute time frame. The next resistance is near the 94.50 zone and the support is at 92.50.
- VIX: Volatility index increased nearly 2.01% yesterday.
News Agenda For Today
12:30GM
USD – Core Durable Goods Orders m/m
14:00GMT
USD – CB Consumer Confidence
Get The News You Want
Trend
The GBP and SEK are trending up against the USD, while the JPY and NZD are trading lower against the USD on an intra-day basis.
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