US Futures Trade Lower Ahead Of Unemployment Claims
AvaTrade | Aug 28, 2014 06:42AM ET
Currencies
- EUR/USD: The pair is trading above the 50 day and 100 day moving average on a 60 minute time frame. The next support is at 1.3100 and the next resistance is at 1.3392.
- 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 1.6714 and the support is at 1.6497.
Indicators
Indices
- Asian Markets closed lower by erasing some of their gains which were made yesterday. The Nikkei 225 is the worst performing index during the session and it closed lower with a loss of 0.48%. The index is up nearly by 0.04% 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 0.93%. The index is up by almost 1.94% in the past 5 days.
- US Indices futures are trading lower ahead of the unemployment claims data. Most indices closed lower yesterday and the NASDAQ index was the worst performer with a loss of 0.01%.
TOP News
- The German unemployment change data did not fall short of previous reading of 12K. The final number was at 2K.
- The Spanish Flash CPI data fell short of expectations with the reading of -0.5%. The forecast was -0.2% while the previous reading was at -0.3%.
- Rumors are running high that apple will announce wearable device on Sept 9.
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.
- Volatility S&P 500: Volatility index increased nearly 1.02% yesterday.
News Agenda For Today
- 12:30 USD: Prelim GDP q/q
- 12:30 GMT USD: Unemployment Claims
- 14:00 GMT US: Pending Home Sales m/m
- 14:30 GMT USD: Natural Gas Storage
Get The News You Want
Trend
The AUD and NZD are trending up against the USD, while the DKK and CHF are trading lower against the USD on an intra-day basis.
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