NZD/USD is trading at 0.70558, 0.02% down since Friday. The antipodean currency pairs seem to be trading weaker post release of soft Chinese economic data; showing a slowdown in industrial sector. However, the New Zealand posted stronger CPI data which grew by 2.2% from 1.3% in the previous month; tuning slightly positive for NZD/USD. Last week, the FOMC Minutes stated the chances of adopting stimulus tapering steps in the next month. The result of Credit Card Spending data will be closely monitored. As seen in the daily chart, the pair is trading above the short term Moving Averages & also, an upside moving RSI line further indicates buying bias on daily basis.
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Near Day |
R3 | 0.71352 |
R2 | 0.71059 |
R1 | 0.70948 |
Turnaround | 0.70766 |
S1 | 0.70655 |
S2 | 0.70473 |
S3 | 0.70180 |
SILVER is trading at $23.285, 0.12% down since previous day close. The strong gains in precious metals turned into losses on Monday as against the mixed USD; for market remains cautious over rising inflation concerns & mounting commodity prices. Last week, the Silver tested multi-months highs despite FOMC’s chances of initiating the tapering down steps from next month. The weaker than expected Chinese GDP data further dragged down the Silver; being an industrial metal & China is a top consumer of metals. Although the tentative sentiments shows selling in Silver; yet the technical chart signals a buying momentum since the commodity started trading above the MA (10) & MA (20).
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Near Day |
R3 | 24.36100 |
R2 | 23.84200 |
R1 | 23.57700 |
Turnaround | 23.32300 |
S1 | 23.05870 |
S2 | 22.80430 |
S3 | 22.28500 |
CHNIND is trading at 8973, 0.27% up since previous day close. The Chinese shares turned on higher side despite soft release of key economic data. The GDP rate grew by just 4.9% lower than previous figure 7.9% & the Industrial Production rose by 3.1% lower than estimation 3.9%. These turned out to be slight negative factor for CHNIND in the early session today; while the indices gained the momentum amid upward moving U.S & European shares. Besides this, ongoing quarter earnings results cushioned the indices. The result of CB Leading Index will remain into focus for the week. As seen in the chart, the CHNIND reversed upside after testing the lower trend-line of channel pattern & hence, further buying may be initiated for the day.
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Near Day |
R3 | 9382.00000 |
R2 | 9164.00000 |
R1 | 9081.00000 |
Turnaround | 8946.00000 |
S1 | 8863.00000 |
S2 | 8728.00000 |
S3 | 8510.00000 |
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