China PMI Report Release

China released its Manufacturing PMI report for May earlier today at 01:00 GMT and the National Bureau of Statistics revealed a 51.2 percent, higher than last month. China’s steel sector grew faster than expected in twelve month as its steel PMI rose from 49.1 to 54.8 in May. Toshiba Corp, the Japanese multinational conglomerate stated it would hold a general shareholders meeting on the 28th of June to talk about its earnings outlook.

source: Reuters, BBC News

A huge car bomb exploded in the centre of Afghan capital, Kabul on Wednesday killed at least 49 people and left 320 injured. Otherwise, the Pound continue to drop on the forex market against the U.S. dollar and the euro as polls showed that May could lose majority in U.K. Parliament. Germany released its Retail Sales report for April at 06:00 GMT today and higher readings may lead to positive trends for the euro.

Germany will report is Unemployment Change for May at 07:55 GMT today, while Eurozone’s Consumer Price Index (CPI) is due at 09:00 GMT and these data would enlighten us on upcoming trends and impact trends of the euro. Additionally Canada will present its GDP data at 12:30 and the U.S. Pending Home Sales data for April will be out at 14:00 GMT. Investors need to follow trends of major currencies today.

Technical Analysis

AUD/USD

AUD/USD

Yesterday, the AUD/USD pair followed several pullbacks, starting from 18:00 UTC at $0.74650 to end its session on a bearish note at 23:00 UTC at $0.74759. On Wednesday, the currency pair gained momentum to reach the 0.74696 level at 00:00 UTC. Few hours later around 03:00 UTC, it started consolidating to trade within similar levels today. The Ichimoku Cloud indicator suggests a change in trend around 14:00 UTC.

GBP/JPY

GBP/JPY

On Monday, this currency pair ended its session bearish as it recorded a huge set of pullbacks, ending at 142.474 yen by 23:00 UTC. In yesterday’s session, it was seen fluctuating during the day. Today, the GBP/JPY pair initiated its session on a positive note at 141.962 yen at 00:00 UTC, followed by bullish candles. However, it started tumbling as from 03:00 UTC, a change in trend is expected around 14:00 UTC today, consider using the 60-Seconds for this one.

EUR/USD

EUR/USD

Events due in Germany and the Eurozone today is expected to affect trends of this currency pair today. Its highest level since today’s early trading hours is at $1.11763 at 03:00 UTC. The asset is expected to consolidate, thus trading within similar levels for today and it will experience a change in trend around 17:00 UTC. The Ladder Trading tool can be used to trade this currency pair today.

Things to watch on the market

Tip 1

Since markets return back to normal after holidays, the Shanghai Composite index can be traded when made available on the trading platform. The SSE 180 vs CSI300 is available to trade with Pairs Trading.

 

Tip 2

Watch out for the euro today and consider trading pairs such as the EUR/GBP, which is seen climbing up in today’s early trading hours, the EUR/CHF and the EUR/RUB is available on most tools on the trading platform.

 

Tip 3

Germany’s DAX index and Canada’s TSX 60 can be traded when they are made available on the platform with One-Touch tool.