Sample Category Title
Sentix Investor Confidence Improves
The common currency rose 0.3% on Monday boosted by weaker demand for the greenback. Economic reports from the eurozone saw the Sentix investor confidence rising to -0.3 for April. This was better than the median estimates which forecast a decline to -1.7 and up from -2.2 from the month before.
Can EURUSD Maintain the Bullish Momentum?
After price consolidated briefly, we saw a breakout from the short term resistance level near 1.1246. The euro posted intraday gains to reach highs of 1.1273 before modestly pulling back. In the near term, we expect the pullback to stall near the resistance level of 1.1246. A rebound off this level could indicate the upside momentum to continue with price targeting 1.1275.
Euro-Zone’s Sentix Investor Confidence Index Advanced For The Second Consecutive Month In April
For the 24 hours to 23:00 GMT, the EUR rose 0.32% against the USD and closed at 1.1257.
On the macro front, the Euro-zone's Sentix investor confidence index climbed to a level of -0.3 in April, notching its highest level since November 2018. The index had recorded a reading of -2.2 in the previous month.
Separately, in Germany, seasonally adjusted trade surplus widened to a €17.9 billion in February, compared to market expectations for a surplus of €16.0 billion. The nation had posted a surplus of €14.6 billion in the prior month.
The US dollar declined against a basket of currencies, following weak factory orders data.
In the US, data showed that factory orders declined 0.5% on a monthly basis in February, less than market expectations. In the prior month, factory orders had recorded an unchanged revised reading. Moreover, final durable goods orders eased 1.6% on a monthly basis in February, confirming the preliminary figures and in line with market anticipations. In the preceding month, durable goods had recorded a revised gain of 0.1%.
In the Asian session, at GMT0300, the pair is trading at 1.1267, with the EUR trading 0.09% higher against the USD from yesterday's close.
The pair is expected to find support at 1.1233, and a fall through could take it to the next support level of 1.1200. The pair is expected to find its first resistance at 1.1287, and a rise through could take it to the next resistance level of 1.1308.
Amid lack of macroeconomic releases in the Euro-zone today, traders would closely monitor the US NFIB small business optimism for March and the JOLTS job openings for February, slated to release later in the day.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
UK’s BRC Retail Sales Across All Sectors Declined Beyond Estimates In March
For the 24 hours to 23:00 GMT, the GBP rose 0.10% against the USD and closed at 1.3060, as prospects of no-deal Brexit dimmed and amid expectations of Brexit delay.
In the Asian session, at GMT0300, the pair is trading at 1.3078, with the GBP trading 0.14% higher against the USD from yesterday's close.
Overnight data showed that UK's BRC retail sales across all sectors slid 1.1% on an annual basis in March, compared to a fall of 0.1% in the previous month. Market participants had envisaged retail sales across all sectors to register a decline of 0.8%.
The pair is expected to find support at 1.3049, and a fall through could take it to the next support level of 1.3020. The pair is expected to find its first resistance at 1.3093, and a rise through could take it to the next resistance level of 1.3108.
With no macroeconomic releases in UK today, investors would look forward to global macroeconomic releases for further direction.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
Japan’s Consumer Confidence Surprisingly Fell In March
For the 24 hours to 23:00 GMT, the USD marginally declined against the JPY and closed at 111.48.
Data revealed that Japan's consumer confidence index unexpectedly declined to a level of 40.5 in March, defying market consensus for a steady reading. The index had registered a reading of 41.5 in the previous month.
In the Asian session, at GMT0300, the pair is trading at 111.33, with the USD trading 0.13% lower against the JPY from yesterday's close.
The pair is expected to find support at 111.21, and a fall through could take it to the next support level of 111.10. The pair is expected to find its first resistance at 111.51, and a rise through could take it to the next resistance level of 111.70.
Moving ahead, investors would closely monitor Japan's machinery orders for February, slated to release overnight.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
Swiss Franc Extends Its Gains In The Asian Session
For the 24 hours to 23:00 GMT, the USD slightly declined against the CHF and closed at 0.9991.
In economic news, Switzerland’s total sight deposits rose to a level of CHF 576.3 billion in the week ended 05 April, from CHF 576.1billion in the previous week.
In the Asian session, at GMT0300, the pair is trading at 0.9985, with the USD trading 0.06% lower against the CHF from yesterday’s close.
The pair is expected to find support at 0.9974, and a fall through could take it to the next support level of 0.9964. The pair is expected to find its first resistance at 0.9999, and a rise through could take it to the next resistance level of 1.0014.
Trading trend in the Swiss Franc today, is expected to be determined by Switzerland’s unemployment rate for March, scheduled to release in a while.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
Canada’s Housing Starts Rose In March, While Building Permits Plunged In February
For the 24 hours to 23:00 GMT, the USD declined 0.44% against the CAD and closed at 1.3312.
Data indicated that Canada's seasonally adjusted housing starts climbed to a level of 192.5K in March, compared to a revised reading of 166.3K in the previous month. Market participants had envisaged housing starts to register a rise to a level of 196.0K. Meanwhile, the nation's building permits unexpectedly tumbled 5.7% on a monthly basis in February, defying market expectations for a rise of 2.0%. Building permits had recorded a revised drop of 6.0% in the prior month.
In the Asian session, at GMT0300, the pair is trading at 1.3312, with the USD trading flat against the CAD from yesterday's close.
The pair is expected to find support at 1.3283, and a fall through could take it to the next support level of 1.3253. The pair is expected to find its first resistance at 1.3364, and a rise through could take it to the next resistance level of 1.3415.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
Aussie Trading Higher In The Morning Session
For the 24 hours to 23:00 GMT, the AUD rose 0.34% against the USD and closed at 0.7122.
LME Copper prices rose 0.2% or $13.5/MT to $6432.5/MT. Aluminium prices declined 0.3% or $5.5/MT to $1858.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7129, with the AUD trading 0.10% higher against the USD from yesterday’s close.
The pair is expected to find support at 0.7101, and a fall through could take it to the next support level of 0.7073. The pair is expected to find its first resistance at 0.7144, and a rise through could take it to the next resistance level of 0.7159.
In absence of key economic releases in Australia today, investor sentiment would be determined by global macroeconomic events.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
Gold: Yellow Metal Extends Its Gains In The Asian Session
For the 24 hours to 23:00 GMT, Gold rose 0.15% against the USD and closed at USD1302.20 per ounce, amid weakness in the greenback.
In the Asian session, at GMT0300, the pair is trading at 1303.00, with gold trading 0.06% higher against the USD from yesterday’s close.
The pair is expected to find support at 1299.10, and a fall through could take it to the next support level of 1295.20. The pair is expected to find its first resistance at 1307.40, and a rise through could take it to the next resistance level of 1311.80.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
Silver: White Metal Trading Flat In The Morning Session
For the 24 hours to 23:00 GMT, Silver rose 0.46% against the USD and closed at USD15.22 per ounce, supported by gains in gold prices.
In the Asian session, at GMT0300, the pair is trading at 15.22, with silver trading flat against the USD from yesterday’s close.
The pair is expected to find support at 15.12, and a fall through could take it to the next support level of 15.01. The pair is expected to find its first resistance at 15.30, and a rise through could take it to the next resistance level of 15.38.
The white metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
Crude Oil: Oil Trading Higher, Ahead Of API’s Weekly Crude Oil Inventories Data
For the 24 hours to 23:00 GMT, Crude Oil rose 1.45% against the USD and closed at USD64.39 per barrel, as turmoil in Libya along with OPEC-led supply cuts and US sanctions on Iran and Venezuela signalled further tightening in global supply.
In the Asian session, at GMT0300, the pair is trading at 64.55, with oil trading 0.25% higher against the USD from yesterday's close.
The pair is expected to find support at 63.53, and a fall through could take it to the next support level of 62.51. The pair is expected to find its first resistance at 65.17, and a rise through could take it to the next resistance level of 65.79.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
