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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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Tuesday, June 04, 2013

Trade Balance Widens for Canada and U.S.

Data released today (Tuesday) shows that trade balance widened for both Canada and the U.S., as shown on the graphs below.


The following is one explanation of the widening pertaining to the U.S.:
Source: http://www.nasdaq.com/markets/us-economic-calendar.aspx


The USD/JPY rallied to 100.36 immediately upon the data release (100.41 is near-term resistance set in overnight trading). As of 10:15 am EDT, price has yet to break above resistance.

Japan's Nikkei 225 Futures Index (NKD) is  attempting to rally this week after a 3080 point drop that began two weeks ago and is trading just below what is now near-term resistance, as shown on the Weekly chart.

Two instruments to watch in the week(s) ahead...


Furthermore, the following data, also released pre-market today, shows an increase in retail sales...it seems the consumer is still spending.