Daily Market Analysis by CapitalStreetFX

[CSFX.Support]

EUR/NZD signal by Capital Street FX

From GMT 04:50 08/05/2017
Till GMT 21:00 08/05/2017

Sell at 1.58300
Take profit at 1.57500
Stop loss at 1.58700

 

[CSFX.Support]

Daily Report on May 09, 2017 by Capital Street FX

Daily Report on May 09, 2017



Asian shares slid form a two-year high on Tuesday as the bullish momentum turned weak in the absence of catalysts to spur further gains. The MSCI Asia Pacific Index fell 0.3 percent after having hit the highest level since June 2015 on Monday. South Korea’s market is closed on Election Day on Tuesday, one day after it soared to a record high.

Japan’s Topix index fell 0.2 percent after jumping 2.3 percent on Monday to the highest since December 2015. Yesterday also marked its biggest one-day gain since January. While Hong Kong’s Hang Seng shed 0.1 percent, Taiwan’s Taiex Index marched higher, heading for the highest closing level since 2000. Australia’s S&P/ASX 200 Index slipped 0.5 percent.

The Aussie dollar lost 0.35 percent in Asian trading hours on Tuesday, performing as the weakest major currency after the Australian Bureau of Statistics reported receipts at Australian stores unexpectedly fell in March. Indeed, retail sales fell at a seasonally adjusted 0.1%, completely in contrast with analysts’ estimate calling for a gain of 0.3 percent. The headline figure, which reflects the strength of consumer spending, slid for a second consecutive month in March with February’s drop being revised lower to minus 0.2 percent.

The International Monetary Fund on Tuesday warned that Asian economies have currently had to cope with rapidly aging populations, which is set to create a demographic "tax" on growth. Additionally, any sudden tightening in global financial conditions or rise in protectionist trade policies will perform as "significant" uncertainty and downside growth risks for Asia's economic outlook.



Technicals

AUDCAD



Fig: AUDCAD H4 Technical Chart

AUDCAD has broken out of a period of moving sideways below a resistance at 23.6% Fibonacci retracement. RSI has been moving at a low of 31.21 while ADX is edging higher with a widening gap between +DI and –DI lines, suggesting a strong downtrend. A support at 1.00300 is within the sight.

Trade suggestion

Sell Stop at 1.00800, Take profit at 1.00300, Stop loss at 1.01000



GBPCHF



Fig: GBPCHF H4 Technical Chart

GBPCHF has soared to highest level since mid-September after marching higher three days in a row. The pair has sent its market into an overbought market which resulted in a consolidation lately. However, with soaring RSI and ADX indices, the pair is expected to advance further.

Trade suggestion

Buy Stop at 1.29300, Take profit at 1.29800, Stop loss at 1.29100



EURAUD


Fig: EURAUD H1 Technical Chart

EURAUD rebounded from a support at 1.47600 and brought its price action to surpass both long-term and short-term MAs. The market has also entered the bullish zone, as indicated by the RSI index which has surged to as high as 63.92. The pair is expected to hit a high at 1.49100.

Trade suggestion

Buy Stop at 1.48500, Take profit at 1.49100, Stop loss at 1.48200



AUDJPY



Fig: AUDJPY H4 Technical Chart

AUDJPY’s price action has twisted with a couple of MAs. No clear trend in the market sent the ADX index to hover around 20 while RSI is moving around the 50 line. In the event of further down moves, the pair is expected to test a support at 82.800.

Trade suggestion

Sell Stop at 83.300, Take profit at 82.800, Stop loss at 83.500

 

[CSFX.Support]

Gold Trade Idea by Capital Street FX

Gold Extends Downward Rally On the back of Strengthening Dollar

Gold futures edged lower on Tuesday, heading lower in four of the past five trading sessions. The precious metal dropped to the lowest level since mid-March as the U.S. dollar strengthened.

Gold prices for June delivery lost 0.75 percent to trade below $1,220.90 an ounce troy. The dollar became stronger against most of its peers. The ICE U.S. Dollar Index added nearly 0.4 percent. The greenback was boosted further after data from the Bureau of Labor Statistics showed monthly jobs openings in March beat expectations.

According to the report released on Tuesday, the number of openings was at 5.74 million. Analysts had expected the figure to reached 5.67 million. A stronger dollar causes commodities priced in the currency like gold less affordable for buyers using other currencies.

Trade suggestion

Sell Stop at 1217.00, Take profit 1.211.00, Stop loss at 1220.00

 

[CSFX.Support]

AUDUSD Trade Idea by Capital Street FX

Australian Dollar Plunges To Four-month Lows After Weak Retail Sales Data

The Aussie dollar lost 0.35 percent in Asian trading hours on Tuesday, performing as the weakest major currency following the release of downbeat retail sales data.

The pair AUDUSD has fallen in four out of last five sessions, sending the price to the lowest level since January 11th. The currency pair remained fragile on Tuesday after the Australian Bureau of Statistics reported receipts at Australian stores unexpectedly fell in March.

Indeed, retail sales fell at a seasonally adjusted 0.1%, completely in contrast with analysts’ estimate calling for a gain of 0.3 percent. The headline figure, which reflects the strength of consumer spending, slid for a second consecutive month in March with February’s drop being revised lower to minus 0.2 percent.

While food retailing increased 0.1%, household goods and clothing sales both fell.

Trade suggestion

Sell Stop at 0.73600, Take profit 0.73200, Stop loss at 0.73800

 

[CSFX.Support]

GBP/JPY signal by Capital Street FX

From GMT 16:30 09/04/2017
Till GMT 21:00 09/04/2017

Buy at 147.800
Take profit at 148.400
Stop loss at 147.500

 

[CSFX.Support]

Daily Report on May 10, 2017 by Capital Street FX

Daily Report on May 10, 2017



Asian shares advanced on Wednesday, led by gains in equities in Hong Kong. The Hang Seng rose 0.6 percent while the Hang Seng China Enterprises Index added 1.1 percent. Australia’s S&P/ASX 200 and the Shanghai Composite Index also climbed, adding 0.5 percent and 0.1 percent, respectively. Likewise, Japan’s Topix index increased 0.2 percent and the Nikkei 225 climbed 0.3 percent.

According to Chinese National Bureau of Statistics, April producer price inflation cooled for a second straight month on the back of tumbling iron ore and coal prices. The producer price index (PPI) was reported to rise 6.4 percent from a year earlier, down from the previous month's gain of 7.6 percent and falling short of economists' expectations for a 6.9 percent rise.

Also released by the National Bureau of Statistics on Wednesday, China's consumer price index (CPI) rose 1.2 percent from a year earlier, advancing from March's 0.9 percent and above analysts' forecasts.

Crude prices edged higher on Wednesday after a report saying that Saudi Arabia would cut supplies. State-owned Saudi Aramco was reported to likely reduce supplies to Asian customers by about 7 million barrels in June as part of OPEC's agreement to reduce production.

However, gains in crude oil futures prices have been threatened by higher crude output from the United States which would offset attempts from other major oil producers to wipe out global glut. As stated by the U.S. Energy Information Administration, U.S. crude production may rise by more than previously expected in 2017 to 9.31 million barrels per day from 8.87 million bpd in 2016, a 440,000 bpd increase.



Technicals

GBPCHF



GBPCHF has been moving sideways around eight-month highs at 1.30400 after having reached this level yesterday. The market, as a result, entered the overbought zone and fell into a consolidation. In the event of continual up moves, the pair is expected to test a major resistance at 1.31000.

Trade suggestion

Buy Stop at 1.30400, Take profit at 1.31000, Stop loss at 1.30100



EURUSD

EURUSD sent its price action below both short-term and long-term MAs yesterday and continued to extend its down moves after a period of moving sideways. While RSI is heading lower, ADX is edging higher, suggesting further declines. A support at 1.08250 is within the sight.

Trade suggestion

Sell Stop at 1.08850, Take profit at 1.08250, Stop loss at 1.09150



SILVER


Silver has been tracing a dynamic support at the short-term MA20 and kept heading downwards. The precious metal hit the lowest level since early January and retreated after having sent the market into the oversold territory. With pressure from two MAs hanging above the price action, the price is expected to test a support at 16.000.

Trade suggestion

Sell Stop at 16.150, Take profit at 16.000, Stop loss at 16.200



CAC40


CAC 40 twisted around a support at 5390.00 yesterday but remained to be supported by two MAs lingering below the price action. RSI which is at as high as 59.74 indicated that the market is still in the bullish zone. A high at 5470.00 is expected to be hit.

Trade suggestion

Buy Stop at 5400.00, Take profit at 5470.00, Stop loss at 5410.00

 

[CSFX.Support]

Mylan Trade Idea by Capital Street FX

Shares of Mylan Increase Even Though Revenue Misses Forecasts

Shares of Mylan NV jumped more than 2.8 percent in premarket trade on Tuesday after the pharmaceutical company reported first-quarter profit that beat estimates.
The Pennsylvania-based company said it earned $66.4 million or 12 cents per share in the latest quarter, up from $13.9 million or 3 cents per share in the year-earlier period. Adjusted for one-timed items, EPS were 93 cents against economists’ forecast of 92 cents.
However, revenue only rose to $2.72 billion from $2.19, well below analysts’ consensus of $2.82 billion. The decline came as a result of a drop in sales of the EpiPen allergic reaction treatment.
The company maintained its March guidance for full year 2017 revenues between $12.25 billion and $13.75 billion and earnings between $2.8 billion and $3.0 billion.

Trade suggestion

Buy Stop at 39.00, Take profit 40.00, Stop loss at 38.50

 

[CSFX.Support]

Nvidia Trade Idea by Capital Street FX

Shares of Nvidia Take Off With A Sharp Jump in Data-center Business

Shares of Nvidia Corp. surged noticeably more than 10 percent in after-hours trading on Tuesday after the gaming company reported earnings easily beat estimates and that its can move beyond the core gaming business and find success elsewhere.

The California-based technology company posted net income of $507 million, or 79 cents a share, on sales of $1.94 billion, which were much higher than economists’ expectations calling for earnings of 66 cents a share on sales of $1.91 billion.

However, revenue from its core videogame segment produced less revenue than expected in the first quarter of its 2018 fiscal year. Nvidia’s gaming business was reported to produce $1.03 billion in gaming sales against average forecasts of $1.13 billion.

However, thanks to Nvidia’s artificial-intelligence advances, shares of the company jumped drastically. Nvidia reported more than $400 million in quarterly revenue for the data-center business and better-than-expected performance from the segment focused on self-driving cars and other automotive efforts.

Trade suggestion

Buy Stop at 113.80, Take profit 115.00, Stop loss at 113.20

 

[CSFX.Support]

NZD/JPY signal by Capital Street FX

From GMT 11:00 10/04/2017
Till GMT 21:00 10/04/2017

Buy at 78.900
Take profit at 79.400
Stop loss at 78.700

 

[CSFX.Support]

Daily Report on May 11, 2017 by Capital Street FX

Daily Report on May 11, 2017



Asian shares remained on their uptrend with upbeat sentiment fueled by global equities that remained at record levels and a rebound in crude oil futures prices that helped boost energy stocks. Stock benchmark indices in New Zealand and South Korea surged the most while Hong Kong’s Hang Seng advanced for a fourth straight day.

Whereas South Korea’s Kospi pared losses from Wednesday’s declines, rising 0.7 percent on Thursday, the Shanghai Composite Index shed 0.4 percent, heading for a seventh decline in the last eight sessions.

New Zealand’s S&P/NZX 50 jumped 0.9 percent to the highest level since September and its currency fell to its lowest level since June 2016 against the dollar after the Reserve Bank of New Zealand kept its benchmark rate unchanged. The central bank said it would keep rates there for an extended period given forecast pointing to slow inflation rate. The bank projected that inflation will decelerate to 1.1 percent in the first quarter of 2018.

Crude oil futures advanced on Thursday, extending their upbeat moves on Wednesday. According to data released by the U.S. Energy Information Administration on Wednesday, U.S. crude stockpiles fell 5.2 million barrels in the week to May 5 as imports dropped sharply. This was not only their biggest one-week drawdown since December but also sent crude stocks to 522.5 million barrels - the lowest since February.

After a meeting with his Iraqi counterpart in Baghdad on Wednesday, Algeria's Energy Minister Nouredine Bouterfa said that both sides were in favour of extending OPEC and non-OPEC producers' deal on global oil supply cuts for a further six months. OPEC is due to meet later this month in Vienna.



Technicals

USDCAD

USDCAD has crossed over a couple of MAs from below and may complete a double-bottom pattern as the pair is attempting to surpass the neck level. In the event of continual up moves, the pair is expected to hit a firm resistance at 1.37900 as RSI is showing a bullish momentum in the market.

Trade suggestion

Buy Stop at 1.37400, Take profit at 1.37900, Stop loss at 1.37200



SILVER

Silver has been tracing an uptrend and has entered a trading range between a support at 16.230 and a resistance at 16.430. With support from two MAs hanging below the price action an rising RSI and ADX indices, the pair is anticipated to reach an upper boundary of the trading range.

Trade suggestion

Buy Stop at 16.270, Take profit at 16.430, Stop loss at 16.200



SUGAR

Sugar prices have been soaring since it reversed higher from a support at 61.8% Fibonacci retracement. The pair broke out of a sideways period and also brought its price action above two MAs. The short-term MA20 has crossed over the long-term MA50, suggesting a strong uptrend.

Trade suggestion

Buy Stop at 15.85, Take profit at 16.15, Stop loss at 15.70



Euro 50


As can be easily seen from the price chart, Euro 50 stock index has been supported by the short-term MA50 and looks set to inch higher to retest an all-time record high at 3680.00. RSI index is rising, suggesting a dominating bullish force in the market.

Trade suggestion

Buy Stop at 3650.00, Take profit at 3680.00, Stop loss at 3645.00

 

[CSFX.Support]

Natural Gas Trade Idea By Capital Street FX

Natural Gas Futures Jump High after Smaller-than-expected Rise in U.S. supplies

Natural gas futures prices jumped nearly 2.8 percent on Thursday after data from the U.S. Energy Information Administration showed a smaller-than-expected rise in U.S. supplies.

Natural gas futures prices for June delivery rose to $3.435 per million British thermal units on Thursday – their highest level since January 26th. Data by the EIA showed that U.S. natural gas supplies rose by 45 billion cubic feet for the week ended May 5. Analysts had expected a build of 61 billion to 62 billion cubic feet.

As stated by the report, total stocks now stand at 2.301 trillion cubic feet, down 372 billion cubic feet from a year ago, but 275 billion cubic feet above the five-year average.

Trade suggestion

Buy Stop at 3.430, Take profit 3.490, Stop loss at 3.400

 

[CSFX.Support]

Oil Trade Idea by Capital Street FX

Oil Futures Prices Extend Their Up Moves Following A Sharp Drop in U.S. Inventories

Crude oil futures advanced on Thursday, extending their upbeat moves on Wednesday which came after a steep drop in U.S. inventories and comments from the Algerian energy ministry.

U.S. crude and global benchmark Brent crude both rose 0.4 percent to $47.55 and $50.45 a barrel, respectively on Thursday. According to data released by the U.S. Energy Information Administration on Wednesday, U.S. crude stockpiles fell 5.2 million barrels in the week to May 5 as imports dropped sharply.

This was not only their biggest one-week drawdown since December but also sent crude stocks to 522.5 million barrels – the lowest since February.

After a meeting with his Iraqi counterpart in Baghdad on Wednesday, Algeria’s Energy Minister Nouredine Bouterfa said that both sides were in favour of extending OPEC and non-OPEC producers’ deal on global oil supply cuts for a further six months. OPEC is due to meet later this month in Vienna.

Trade suggestion

Buy Stop at 50.40, Take profit 51.00, Stop loss at 50.10

 

[CSFX.Support]

AUD/CAD signal by Capital Street FX

From GMT 09:50 11/04/2017
Till GMT 21:00 11/04/2017

Sell at 1.00800
Take profit at 1.00300
Stop loss at 1.01000

 

[CSFX.Support]

Daily Report on May 15, 2017 by Capital Street FX

Daily Report on May 15, 2017



Asian shares soared to a two-year high on Monday with MSCI's broadest index of Asia-Pacific shares outside Japan rising 0.3 percent to its highest level since June 2015. European stocks also advanced, extending a three-week rally. Equities were boosted thanks to optimism over China’s international infrastructure plans released by President Xi Jinping on Sunday.

Over the weekend, Xi laid out a framework for Chinese-style globalization, pledging 540 billion yuan ($78 billion)in financing. Particularly, 100 billion yuan will be spent on China’s Silk Road Fund, 380 billion yuan on new lending for participating nations, and 60 billion yuan in coming years to developing countries and international organizations that join the program.

Crude oil prices advanced by more than 2 percent on Monday, on the back of a meeting between Saudi Energy Minister and his Russian counterpart in Beijing that helped mount the possibility for a crude production cut to be extended.

While Brent crude moved past $52.00 per barrel, U.S. West Texas Intermediate (WTI) jumped above $49.00 per barrel. After the meeting on Monday, the energy ministers of the world's two biggest producers Saudi Arabia and Russia, which are responsible for about 20 million bpd of crude, equivalent to one-fifth of global consumption, said that a joint deal to cut crude supplies further might be extended from the middle of this year until the end of March 2018.



Technicals

EURUSD


EURUSD has broken out of a period of moving sideways above the short-term MA20. The pair has officially brought its price action above these two MAs and looked set to send the price higher. Both RSI and ADX indices are rising, suggesting a strong bullish force in the market.

Trade suggestion

Buy Stop at 1.09500, Take profit at 1.10000, Stop loss at 1.09300



NZDUSD


NZDUSD has been soaring since it reversed higher from a support at 0.68600. Recent up moves helped the price action cross over two MAs from below. The pair is expected to retest a resistance at 0.69500 as the RSI index that has moved past the 50 line indicates an overwhelming bullish momentum in the market.

Trade suggestion

Buy Stop at 0.69100, Take profit at 0.69500, Stop loss at 0.68900



BRENT


Brent crude eventually breached a strong resistance at 23.6% Fibonacci retracement after having trade below this level in the second half of last week. RSI has entered the overbought zone, while ADX continued edging higher. A widening gap between +DI and –DI lines suggests further advances.

Trade suggestion

Buy Stop at 52.10, Take profit at 53.00, Stop loss at 51.70



GOLD

As can be seen from the price chart, gold has been supported by the short-term hourly MA20. The precious metal price continued to reverse higher after hitting this dynamic support and is heading higher in an attempt to retest a resistance at 1236.00. RSI and ADX are inching higher, confirming the uptrend.

Trade suggestion

Buy Stop at 1232.00, Take profit at 1236.00, Stop loss at 1230.00

 

[CSFX.Support]

WTI Trade Idea by Capital Street FX

U.S. WTI Futures Extend Gains After Saudi Arabia and Russia Signal Further Output Cut

Crude oil prices advanced by more than 2 percent on Monday, on the back of a meeting between Saudi Energy Minister and his Russian counterpart in Beijing that helped mount the possibility for a crude production cut to be extended.

While Brent crude moved past $52.00 per barrel, U.S. West Texas Intermediate (WTI) jumped above $49.00 per barrel. After the meeting on Monday, the energy ministers of the world’s two biggest producers Saudi Arabia and Russia, which are responsible for about 20 million bpd of crude, equivalent to one-fifth of global consumption, said that a joint deal to cut crude supplies further might be extended from the middle of this year until the end of March 2018.

OPEC is due to meet in Vienna, Austria, on May 25.

Meanwhile, according to energy services firm Baker Hughes Inc, U.S. energy firms continued to add oil rigs last week. Drillers added nine oil rigs in the week to May 12, extending the rally to a 17th week in a row. The increase sent the total count up to 712 – the highest reading since April 2015. However, the pace of the rally has declined. The total number of the last four weeks’ additions fell to the lowest since March.

Trade suggestion

Buy Stop at 49.00, Take profit 50.00, Stop loss at 48.50

 

[CSFX.Support]

USD/CAD signal by Capital Street FX
From GMT 05:50 15/05/2017
Till GMT 21:00 15/05/2017
Sell at 1.36750
Take profit at 1.36400
Stop loss at 1.36900


GBP/CHF signal by Capital Street FX
From GMT 16:25 15/05/2017
Till GMT 21:00 15/05/2017
Sell at 1.28600
Take profit at 1.28000
Stop loss at 1.28900

 

[CSFX.Support]

Daily Report on May 16, 2017 by Capital Street FX

Daily Report on May 16, 2017



Asian shares extended their gains on Tuesday with bullish sentiment boosted by U.S. stock indices that soared to fresh highs on Monday on the back of a surge in crude oil futures prices. The MSCI Asia Pacific Index increased 0.2 percent, on course for the highest closing level since May 2015.Stock benchmark indexes in Australia and Japan climbed after the S&P 500 Index closed above 2,400 for the first time in Monday’s session.

Indeed, Australia’s S&P/ASX 200 advanced 0.2 percent while Japan’s Topix rose 0.3 percent. Those gains offset losses in China shares which had surged on Monday amidst optimism over Beijing’s infrastructure spending program. While The Shanghai Composite Index dropped 0.7 percent and the Hang Seng Index shed 0.3 percent.

According to Reserve Bank of Australia’s minutes of this month’s policy meeting which was released Tuesday in Sydney, the central bank stated that its monetary policy settings continued to be supported by moderate economic growth coupled with a gradual pickup in inflation. The RBA said its forecast that core inflation would pick up to around 2 percent by 2018 was cemented by March consumer price data. Meanwhile, jobs and housing remained key concerns.

U.S. WTI prices added 0.6 percent to $49.12 a barrel on Tuesday after having soared by 2.1 percent on Monday. Crude oil futures prices rose for a fifth day as investors considered comments from Saudi Arabia and Russia officials that supported an extension of output cuts.



Technicals

AUDCAD


AUDCAD has been moving sideways below the 23.6% Fibonacci retracement since last Friday. The unclear trend in the market caused the ADX index to inch lower. However, the pair looks set to trade lower as the market remains in the bearish territory, as indicated by RSI index. A support at 1.00300 may be tested.

Trade suggestion

Sell Stop at 1.00900, Stop loss at 1.00300, Take profit at 1.01200



BRENT


Brent crude reversed higher after a short correction as the market was brought into an overbought zone following a sharp surge that sent the price to the highest level since April 26th. The commodity price may surge higher to test a resistance at 53.00 with both RSI and ADX rising.

Trade suggestion

Buy Stop at 52.00, Stop loss at 53.00, Take profit at 51.50



Coffee


As can be seen from the price action, the price has been depressed by two MAs that hanging above the price action. Coffee price is heading lower to a support at 130.60 with a bearish momentum strengthening in the market, as indicated by RSI index that has reached as low as 40.28.

Trade suggestion

Sell Stop at 132.60, Stop loss at 130.60, Take profit at 133.60



SILVER


Silver has been tracing an uptrend with upward support from two MAs lingering below the price action, especially the short-term MA20. Both ADX and RSI indices are soaring, suggesting a strong bullish force in the market. The bull is likely to send the metal price to as high as 16.840.

Trade suggestion

Buy Stop at 16.740, Stop loss at 16.840, Take profit at 16.690

 

[CSFX.Support]

Home Depot Trade Idea by Capital Street FX

Shares of Home Depot Advance After Upbeat Earnings Report and Rosy Outlook

Shares of Home Depot Inc. advanced on Tuesday after the company raised its profit outlook for the year and reported quarterly earnings that beat estimates.

The Atlanta-based company said it earned net income of $2.0 billion, or $1.67 a share, in the first quarter. This was up from $2.8 billion, or 41.44 a share, in the year-earlier period. Sales were said to rise to $23.9 billion from $22.8 billion recorded one year ago. The result topped markets’ forecast calling for EPS of $1.61 and sales of $23.8 billion.

According to the quarterly earnings report, same-store sales rose 6%, beating analysts’ expectation for a rise of 5.64%. Home Depot forecasts total sales and same-store sales to grow 4.6% in the fiscal year 2017. Meanwhile, EPS outlook is raised to $7.15, up from $7.13 previously, given anticipated share buybacks program.

Trade suggestion

Buy Stop at 159.00, Take profit 160.00, Stop loss at 158.50

 

[CSFX.Support]

EUR/AUD signal by Capital Street FX

From GMT 02:50 16/05/2017
Till GMT 21:00 16/05/2017

Buy at 1.48200
Take profit at 1.48700
Stop loss at 1.48000

 

[CSFX.Support]

EURUSD Trade Idea by Capital Street FX

Dollar Hit by Weak Data Political Turmoil, Euro Soars Above 1.10000 Significant Level

The Euro moved past the 1.10 handle versus the U.S. dollar for the first time since early November on Tuesday as the greenback was hit hard by concerns over U.S. political turmoil while the single currency strengthened after upbeat economic data released earlier on the day.

The pair EURUSD jumped nearly 1% to as high as 1.10800 – the highest level since November 8th as the dollar lost ground after weaker-than-expected U.S. housing data which showed building permits decreased 2.5% on a yearly basis to 1.23 million unit. Analysts had forecast a rise to 1.27M units. Meanwhile, U.S. President Donald Trump was alleged to disclose highly classified information of terrorism intelligence to Russia’s foreign minister.

In terms of the Eurozone, the latest growth figures released this morning showed the Eurozone economy expanded at a steady pace of 0.5 percent on a quarterly basis, which was in line with expectations.

Trade suggestion

Buy Stop at 1.10800, Take profit 1.11400, Stop loss at 1.10500