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Daily Briefing- US futures higher ahead of consumer sentiment data

Daily Briefing

Currencies

  • EUR/USD: The pair is still trading below its downward trend line on a 30 minute time frame. The next resistance is at 1.08 and the support is at 1.04.
  • USD/JPY: The pair is firmly trading above its upward trend line on a 30 minute time frame. The next support is at 118.71 and resistance at 122.
  • GBP/USD: The pair is trading in a downward channel on a 30 minute time frame. The resistance is near the 1.5018 and support is at 1.47.

Indices

  • 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 1.38%. 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 FTSE100  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 consumer sentiment data. Most indices closed higher during the last session and the NASDAQ index was the best performer with a gain of 0.32%.

TOP News

  • The Japanese revised industrial production data came in at 3.7% which was below the expectation of 4.0%
  • Sweden February house prices rose annual 11% and apartment prices increase was the same as well.
  • Financials are the strongest dividend player in the S&P.

Things to Remember

Stop loss is your biggest friend so make sure you use it

Market Sentiment

  • Gold: The precious metal is trading in a sideway pattern on a 30 minute time frame. The next support is near the 1140 and the next resistance is near the 1180.
  • 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.
  • VIX: Volatility index dropped nearly -8.01% on the last trading day.

News Agenda For Today

12:30 GMT

CAD– Employment Change

USD- PPI m/m

14:00 GMT

USD- Prelm Consumer Sentiment

 

For more daily Analysis please go to https://twitter.com/AvaTradeAND our Chief Market Analyst @NaeemAslam23



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