Asian Indices Mixed

Asian Equities Finished Lower in Choppy Trading

Asian indices finished lower today as traders focus turn to G20 meeting in Osaka, Japan. The Nikkei225 finished 0.51 percent lower to 21,086. The Hang Seng benchmark in Hong Kong finished 0.15 percent higher at 28,231. The Shanghai Composite finished 0.20 percent lower to 2,976, while in Singapore, the FTSE Straits Times index finished 0.14 percent lower to 3,299. Australian equities finished lower today with The ASX200 down 17 points lower at 6640.5.

AUDUSD Daily Chart

European session continues lower today as markets await the G20 meeting in Osaka Japan. DAX30 is giving up 0.19 percent to 12,205, CAC40 is 0.15 percent lower at 5,506 while the FTSE MIB in Milan is trading 0.22 percent lower at 21,081. The London Stock Exchange is 0,06 percent lower to 7,418 amid Brexit uncertainty.

In commodities markets, crude oil continues its trip north at $59.06 amid geopolitical tensions around the globe and low-interest rates environment. Brent oil adds two dollars at $66,12 per barrel as major oil producers have yet to agree on adjustments on output. Gold retreats from recent high at 1,404. The precious metal holds above all the major daily moving averages and strong resistance will be met at 1,439 the daily high.

XAUUSD Hourly (H1) Chart

In cryptocurrencies market, Bitcoin (BTCUSD) makes another yearly high above 12,900 and retreats back to 12,665 the daily low for BTC was at 11,302 and the daily high at 12,939. Immediate support for BTC stands now at $12,000 round figure while next support stands at 11,500. On the upside, strong resistance now stands at 12,939 today’s high while I expect extra pressure from sellers at 13,000 and then at 13,500. Ethereum (ETHUSD) also trades higher at 330, with capitalization now to 35.4 billion. On the upside, the immediate resistance stands at 336.70 the daily high while the support now stands at 300 the previous resistance which now turns into support. Litecoin (LTCUSD) on the other hand trades flat at 134. The crypto market cap now stands above $364.0 billion.

On the Lookout: The Germany Gfk Consumer Confidence Survey came in 9.8 below forecasts of 10 for July. The France Consumer Confidence came in at 101 above economist’s forecasts of 100 for June. The Reserve Bank of New Zealand earlier today kept interest rates unchanged at 1.50%.  

In macro news from America, we await the US Durable Goods Orders and Goods Trade Balance figures. Also, the US Energy Information Administration weekly crude stockpiles data will be released. 

Trading Perspective: In forex markets, USD trades at 96.17 after he comments from Fed members yesterday that calm the markets, while the Aussie dollar continues higher for the sixth day at 0.6980, while Kiwi also trades higher at 0.6664 after the RBNZ hold rates.

GBPUSD is trading flat at 1.26670 as traders are still nervous about the Brexit developments. Major support now stands at 1.2652 the 200-hour moving average which if broken might accelerate the slide further towards 1.2600  round figure. On the upside, immediate resistance now stands at 1.2717 the 100-hour moving average while more offers will emerge at 1.2815 the 50-day moving average. 

In Sterling futures markets the open interest shrunk by 1500 contracts while volume increased by more than 26,200 contracts. 

EURUSD trades flat at 1.1370 as the pair yesterday failed to break above 1.14. The pair on Friday broke above the 200-day moving average and that attracted extra bids that pushed the pair up to 1.1390. Immediate resistance for the pair stands at 1.14 round figure. A convincing close above 1.14 can lead prices to 1.1450. Support now stands at 1.1344, the low from yesterday, while more bids will emerge at 1.1260 the 100-day moving average. 

In euro futures markets, the open interest increased by 800 contracts, while volume increased by 58.000 contracts. 

USDJPY trades 0.25 percent higher today at 107.42 having hit the daily low at 107.09 and the daily high at 107.49. USDJPY pair will find support around 107.00 round figure and then at 106.70 the YTD low. On the upside, immediate resistance for the pair now stands at 107.86 the 200-hour moving average. 

In Yen futures markets, the open interest increased by 700 contracts, volume increased by 74.000 contracts. 

USDCAD trades flat today at 1.3160 as the rally continues in crude oil prices, Canada’s main export item seems to have added further strength in the Canadian Dollar (CAD). The pair will find immediate support at 1.3150 while extra support stands at 1.3100 round figure. The pair has reached oversold levels so a rebound can’t be ruled out. On the upside, immediate resistance now stands at the 1.32 zone before an attempt to 1.3450 recent high from 31st May.