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Futures on major US indices were trading in negative territory at the time of writing. S&P 500 and Nasdaq 100 futures inched down to 2834.3 and 7408.25 respectively at the time of writing.

On the corporate front, Cisco Systems and Macy’s are among the companies set to release their earnings on Wednesday.

On the economic front, Core Retail Sales for April are scheduled to be released today at 8:30 am ET. Sales are expected to rise by 0.7% on an MoM basis.

European equities were trading lower on Wednesday morning. In the Cash Markets, the CAC 40 and the DAX 30 inched down by 0.42% and 0.50% respectively at the time of writing.

On the data front, the preliminary reading of the German GDP for the first quarter was released on Wednesday. The QoQ rate of change in the GDP was 0.4%. The GDP growth was in line with market expectations.

Asia-Pacific stocks closed higher on Wednesday. The Shanghai Composite rose 1.91% to close at 2,938.68. The ASX 200 added 0.71% to finish the trading day at 6,284.20. The Nikkei 225 inched up 0.58% to close at 21,188.56 on Wednesday.

On the economic front, the Chinese Industrial Production (YoY) for April released earlier today came in at 5.4%. The Production change was below the consensus estimates of 6.5%. In addition, the Chinese Retail Sales (YoY) for April also out today came in at 7.2%. It was the slowest pace of retail sales growth since May 2003.

US Dollar Index futures edged up 0.02% to 97.35 at the time of writing. The pound hovered near a two-week low today, and traders said more losses were likely if the U.K. PM’s proposed Brexit deal gets voted down again in June.

In the Commodity Markets, Gold and Silver inched up to 1296.95 and 14.750 respectively at the time of writing. In news related to commodity markets, crude prices dropped today after data showed a surprise rise in U.S. crude stockpiles and as Chinese industrial output grew less than expected in April, but prices were supported by mounting tensions in the Middle East.

In the Cryptocurrency Markets, Bitcoin edged down to 8067.01 and Ethereum rose to 234.45 at the time of writing. In news related to the cryptocurrency markets, Ethereum surged more than 10% on Wednesday. The move pushed the cryptocurrency’s market capitalization up to $24.20 Billion.

 

TECHNICAL SUMMARY

 

EUR/USD

EUR/USD D1

TRADE SUGGESTION- STOP SELL AT 1.11990 TAKE PROFIT AT 1.11840 STOP LOSS AT 1.12070

 

USD/JPY

USD/JPY D1

TRADE SUGGESTION- LIMIT SELL AT 109.375 TAKE PROFIT AT 109.225 STOP LOSS AT 109.455

 

EUR/JPY

EUR/JPY D1

TRADE SUGGESTION- STOP SELL AT 122.450 TAKE PROFIT AT 122.250 STOP LOSS AT 122.550

 

AUD/USD

AUD/USD D1

TRADE SUGGESTION- LIMIT SELL AT 0.69190 TAKE PROFIT AT 0.69000 STOP LOSS AT 0.69300

 

NATURAL GAS

NATURAL GAS D1

TRADE SUGGESTION- LIMIT BUY AT 2.635 TAKE PROFIT AT 2.660 STOP LOSS AT 2.623

 

SILVER

SILVER D1

TRADE SUGGESTION- LIMIT BUY AT 14.740 TAKE PROFIT AT 14.810 STOP LOSS AT 14.710

 

NASDAQ 100

NASDAQ 100 D1

TRADE SUGGESTION- LIMIT SELL AT 7405 TAKE PROFIT AT 7375 STOP LOSS AT 7420

 

CAC 40

CAC 40 D1

TRADE SUGGESTION- LIMIT SELL AT 5323 TAKE PROFIT AT 5303 STOP LOSS AT 5333