Sample Category Title

For the 24 hours to 23:00 GMT, the AUD declined 0.80% against the USD and closed at 0.7661.

LME Copper prices rose 2.1% or $142.0/MT to $6767.0/MT. Aluminium prices declined 0.2% or $3.0/MT to $1969.0/MT.

In the Asian session, at GMT0300, the pair is trading at 0.769, with the AUD trading 0.38% higher against the USD from yesterday’s close.

The pair is expected to find support at 0.7660, and a fall through could take it to the next support level of 0.7630. The pair is expected to find its first resistance at 0.7718, and a rise through could take it to the next resistance level of 0.7746.

Next week, a speech by the Reserve Bank of Australia’s Governor, Philip Lowe as well as the release of Australia’s AiG performance of construction index and the NAB business confidence data, all would be on investors radar.

The currency pair is trading between its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, the EUR declined 0.35% against the USD and closed at 1.2242, after the services sector activity across the Euro-bloc slowed more than initially estimated in March.

In the Euro-zone, data showed that the seasonally adjusted retail sales rebounded less-than-anticipated by 0.1% on a monthly basis in February, compared to market expectations for an advance of 0.5%. In the previous month, retail sales had dropped by a revised 0.3%. On the contrary, the region’s final Markit services PMI fell more than initially estimated to a level of 54.9 in March, compared to a level of 56.2 in the previous month, while the preliminary figures had recorded a drop to a level of 55.0.

Separately, Germany’s final Markit services PMI was revised lower to a level of 53.9 in March, down from the earlier flash estimate of 54.2. In the prior month, the PMI had recorded a reading of 55.3. Meanwhile, the nation’s seasonally adjusted factory orders rebounded less-than-anticipated by 0.3% on a monthly basis in February, after registering a revised fall of 3.5% in the prior month, while markets were expecting for a gain of 1.5%.

Macroeconomic data showed that first time claims for the US unemployment benefits climbed more-than-expected to a level of 242.0K in the week ended 31 March, jumping to a nearly 3-month high level. Initial jobless claims had registered a revised reading of 218.0K in the prior week, while investors had envisaged for an increase of 225.0K. Additionally, the nation’s trade deficit widened to a more than 9-year high level of $57.6 billion in February, from a revised deficit of $56.7 billion in the previous month and exceeding market consensus for the nation to register a trade deficit of $56.8 billion.

In the Asian session, at GMT0300, the pair is trading at 1.2255, with the EUR trading 0.11% higher against the USD from yesterday’s close.

The pair is expected to find support at 1.2220, and a fall through could take it to the next support level of 1.2184. The pair is expected to find its first resistance at 1.2289, and a rise through could take it to the next resistance level of 1.2322.

Ahead in the day, traders would look forward to Germany’s industrial production data for February and Markit construction PMI for March, both due to release in a few hours. Later in the day, investors would focus on the crucial US non-farm payrolls and average hourly earnings data for March, to gauge strength in the nation’s labour market.

The currency pair is trading between its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, the GBP declined 0.58% against the USD and closed at 1.4003, after reading on UK's services sector came in worse-than-anticipated in March.

Data showed that Britain's Markit services PMI eased to a level of 51.7 in March, hitting its lowest level since July 2016. Market participants had envisaged the PMI to drop to a level of 54.0, after recording a reading of 54.5 in the previous month.

In the Asian session, at GMT0300, the pair is trading at 1.4015, with the GBP trading 0.09% higher against the USD from yesterday's close.

The pair is expected to find support at 1.3959, and a fall through could take it to the next support level of 1.3903. The pair is expected to find its first resistance at 1.4078, and a rise through could take it to the next resistance level of 1.4141.

Amid no key macroeconomic releases in UK today, investors would direct their attention to Britain's trade balance, industrial and manufacturing production data as well as the Bank of England's credit conditions survey report, all due to release next week.

The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.

For the 24 hours to 23:00 GMT, the USD rose 0.32% against the JPY and closed at 107.12.

In the Asian session, at GMT0300, the pair is trading at 107.23, with the USD trading 0.10% higher against the JPY from yesterday’s close.

The pair is expected to find support at 106.88, and a fall through could take it to the next support level of 106.52. The pair is expected to find its first resistance at 107.54, and a rise through could take it to the next resistance level of 107.84.

Going ahead, traders would closely monitor Japan’s (BOP basis) trade balance, consumer confidence index, flash machine tool orders and machinery orders data, all slated to release next week.

The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.

For the 24 hours to 23:00 GMT, the USD rose 0.26% against the CHF and closed at 0.9628.

In economic news, Switzerland’s consumer price index (CPI) climbed 0.4% MoM in March, compared to a similar rise in the prior month and topping market expectations for a rise of 0.2%.

In the Asian session, at GMT0300, the pair is trading at 0.9620, with the USD trading 0.08% lower against the CHF from yesterday’s close.

The pair is expected to find support at 0.9599, and a fall through could take it to the next support level of 0.9577. The pair is expected to find its first resistance at 0.9641, and a rise through could take it to the next resistance level of 0.9661.

Looking forward, market participants would eye Switzerland’s unemployment rate data, the sole important release next week.

The currency pair is trading between its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, the USD rose 0.14% against the CAD and closed at 1.2779.

On the data front, Canada’s international merchandise trade deficit widened more-than-estimated to C$2.69 billion in February, following a revised deficit of C$1.94 billion in the previous month. Market anticipation was for the nation to record a trade deficit of C$2.10 billion.

In the Asian session, at GMT0300, the pair is trading at 1.2754, with the USD trading 0.20% lower against the CAD from yesterday’s close.

The pair is expected to find support at 1.2730, and a fall through could take it to the next support level of 1.2707. The pair is expected to find its first resistance at 1.2792, and a rise through could take it to the next resistance level of 1.2831.

Later in the day, traders would await Canada’s unemployment rate data for March.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, Gold declined 0.54% against the USD and closed at USD1330.80 per ounce, as the greenback strengthened following easing worries over US-China trade war.

In the Asian session, at GMT0300, the pair is trading at 1334.70, with gold trading 0.29% higher against the USD from yesterday’s close, after the US President, Donald Trump, proposed new tariffs on China, reigniting fears over a potential trade war between the two economies.

The pair is expected to find support at 1328.23, and a fall through could take it to the next support level of 1321.77. The pair is expected to find its first resistance at 1338.93, and a rise through could take it to the next resistance level of 1343.17.

The yellow metal is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.

For the 24 hours to 23:00 GMT, Silver rose 0.43% against the USD and closed at USD16.38 per ounce, tracking gains in gold prices.

In the Asian session, at GMT0300, the pair is trading at 16.4, with silver trading 0.15% higher against the USD from yesterday’s close.

The pair is expected to find support at 16.23, and a fall through could take it to the next support level of 16.05. The pair is expected to find its first resistance at 16.50, and a rise through could take it to the next resistance level of 16.59.

The white metal is trading above its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, Crude Oil declined 0.99% against the USD and closed at USD63.00 per barrel, amid strength in the US Dollar.

In the Asian session, at GMT0300, the pair is trading at 63.19, with oil trading 0.30% higher against the USD from yesterday’s close.

The pair is expected to find support at 62.63, and a fall through could take it to the next support level of 62.08. The pair is expected to find its first resistance at 63.93, and a rise through could take it to the next resistance level of 64.68.

Crude oil is trading below its 20 Hr and 50 Hr moving averages.

Daily Pivots: (S1) 1.2728; (P) 1.2767; (R1) 1.2790; More....

USD/CAD's downside momentum diminished a bit as seen in 4 hour MACD. But intraday bias stays on the downside for deeper fall. As noted before, near term trend should have reversed with head and shoulder top pattern (ls: 1.3000; h: 1.3124; rs: 1.2942). Decline from 1.3124 should target 61.8% retracement of 1.2246 to 1.3124 at 1.2581 next. Also, noted that current development suggest rejection by 1.3065 fibonacci level. And deeper decline could be seen back to 1.2246 and below eventually. On the upside, above 1.2846 minor resistance will turn bias neutral first. But break of 1.2942 is needed to confirm completion of the decline. Otherwise, outlook will stay cautiously bearish in case of recovery.

In the bigger picture, outlooks is turned a bit mixed again. Strong support was seen from 50% retracement of 0.9406 (2011 low) to 1.4689 (2015 high) at 1.2048. But there was no follow through buying above 38.2% retracement of 1.4689 to 1.2061 at 1.3065. Rejection by 1.3065 will argue that price action from 1.2061 is merely a three wave corrective pattern. And 1.2061 will be put back into focus with medium term bearishness revived.