CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
☰
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
✖

Range trading ahead of Easter holidays

Article By: ,  Financial Analyst
April 16, 2014 10:37 AM

More range bound trading today as the markets still can’t quite get a trend going in the holidays.

The tensions in Ukraine and Russia are becoming the main talking points of yesterday as traders get increasingly nervous holding positions over the Easter holidays.

Chinese GDP was roughly as expected by some but still low enough to spur renewed stimulus talks. This in turn weakened the yen and gave the Aussie dollar a lift after its losses yesterday.

Today’s action kicks off with the UK unemployment rate expected at 7.2% – the same as last. At the same time the claimant count change will be released and is expected at -30.2k from a previous reading of -34.6k.

In Europe the year-on-year CPI is released today and is expected at 0.5% – the same as last time. The core year-on-year CPI is expected at 0.8% – a drop from the previous reading of 1%. A lot of attention is drawn to inflation/deflation issues. With the eurozone this could be a key to the next trend of the euro.

In the US building permits will be released today and are expected at one million – a slight drop from its last reading.

We then hear more comments from Yellen later from a conference in New York, which will probably be more of the same with no extra clues.

The Beige Book will also be released tonight. A further economic signal that the Fed use to determine their actions in Fed policy meetings.

For CAD traders the rate announcement is out today and is expected to remain at 1.00%. This is then followed by the statement which will be more likely to give any clues to further actions the BoC may take.

 

EUR/USD

Supports 1.3780 1.3750 1.3700 | Resistance 1.3880 1.3910 1.3940

 

USD/JPY

Supports 101.20 100.75 100.40 | Resistance 102.15 102.50 102.80

 



GBP/USD

Supports 1.6700 1.6660 1.6620 | Resistance 1.6750 1.6780 1.6820

 

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFD and Forex Trading are leveraged products and your capital is at risk. They may not be suitable for everyone. Please ensure you fully understand the risks involved by reading our full risk warning.

City Index is a trading name of StoneX Financial Ltd. Head and Registered Office: 1st Floor, Moor House, 120 London Wall, London, EC2Y 5ET. StoneX Financial Ltd is a company registered in England and Wales, number: 05616586. Authorised and regulated by the Financial Conduct Authority. FCA Register Number: 446717.

City Index is a trademark of StoneX Financial Ltd.

The information on this website is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement.

© City Index 2024