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Futures on major US indices were hovering near the flat line on Wednesday. Nasdaq 100 and S&P 500 futures inched down to 7384 and 2886.50 respectively at the time of writing.

On the data front, US PPI (MoM) for Sept. is scheduled to be released today at 8:30 am ET. The PPI is expected to rise by 0.2%.  The PPI fell 0.1% in the previous month. In other data, the API is scheduled to report U.S. crude supplies for the week ended 5th October, today at 4:30 pm ET. The API is expected to report a drop of 0.37 million barrels in the US crude supplies. Previously, the API reported that U.S. crude supplies rose by 0.907 million barrels for the week ended Sept. 28.

European shares were trading lower on Wednesday afternoon. In the cash markets, FTSE 100 was up 0.05% and DAX 30 was down 0.41% at the time of writing. The pan-European Stoxx 600 was off by 0.2% with most sectors in negative territory.  Autos and basic resources were among the top losers.

On the economic front, UK GDP change (MoM) for August released earlier today came in at 0%. The markets expected GDP to rise by 0.1% with 0.3% growth registered in the previous month. In addition, UK Manufacturing Production change (MoM) for August also released today came in at -0.2%. The markets expected Production to rise by 0.1% with a 0.2% decline registered in the previous month.

Asia-Pacific markets closed broadly positive on Wednesday. The Shanghai Composite closed higher by 0.18% on Wednesday. The Nikkei 225 closed higher by 0.16%. The ASX 200 closed higher by 0.14% with most sectors in positive territory. Bucking the trend, Kospi closed in negative territory on Wednesday.

On the economic front, data released earlier today reported that Japanese core machinery orders rose above expectations in August, suggesting possible growth in capital expenditure. Machine orders rose by 12.6% on YoY basis for August. The markets expected orders to rise by 1.6% with 13.9% growth registered in July.

US Dollar Index futures were trading flat at 95.35 at the time of writing. Sterling hit a new 3-1/2 month high versus the euro and added to gains against the dollar on Wednesday on optimism that Britain and the European Union can agree a Brexit deal soon.

In the Commodity Markets, Gold inched down to 1188.30 and Silver rose to 14.330 at the time of writing. BP CEO, Bob Dudley said at a conference on Wednesday that if the US imposed sanctions on Russian energy firms Gazprom and Rosneft such as it did on aluminum producer Rusal, it would virtually shut down Europe’s energy systems.

In the Cryptocurrency Markets, Ethereum inched down to 215.80 and Bitcoin fell to 6521.20 at the time of writing. In news related to the blockchain, Mastercard has won a patent for a proposed system that would allow for the launch of different kinds of blockchains – including those that support multiple currencies. The Patent was published by the U.S. Patent and Trademark Office on Tuesday and explained that a company may need to store different types of transaction information on a single platform – something that is currently difficult to do on a single blockchain.

 

TECHNICAL SUMMARY

 

EUR/USD

EUR/USD D1

TRADE SUGGESTION- LIMIT SELL AT 1.15075 TAKE PROFIT AT 1.14775  STOP LOSS AT 1.15225

 

USD/CAD

USD/CAD D1

TRADE SUGGESTION-LIMIT BUY AT 1.29350 TAKE PROFIT AT 1.29750  STOP LOSS AT 1.29150

 

EUR/JPY

EUR/JPY D1

TRADE SUGGESTION-LIMIT BUY AT 130.070 TAKE PROFIT AT 130.470  STOP LOSS AT 129.870

 

USD/JPY

USD/JPY D1

TRADE SUGGESTION-LIMIT SELL AT 113.300 TAKE PROFIT AT 113.000  STOP LOSS AT 113.450

 

NATURAL GAS

NATURAL GAS D1

TRADE SUGGESTION-LIMIT BUY AT 3.300 TAKE PROFIT AT 3.360  STOP LOSS AT 3.270

 

SILVER

SILVER D1

TRADE SUGGESTION- LIMIT SELL AT 14.360 TAKE PROFIT AT 14.260  STOP LOSS AT 14.410

 

DAX 30

DAX 30 D1

TRADE SUGGESTION-LIMIT SELL AT 11940 TAKE PROFIT AT 11860  STOP LOSS AT 11980

 

BTC/USD

BTC/USD D1

TRADE SUGGESTION- LIMIT SELL AT 6535 TAKE PROFIT AT 6475  STOP LOSS AT 6565