Trading Tips for the Day - 5 May 2015

FKLI will likely open higher today, for the first trade, one can attempt to Long 1-3 points below the opening price.  Try get 5-7 points profit and put a stop 5 points away from your entry point.  Close your position by the end of the day.

In other news...

 This week will focus on whether Greece can reach a bailout agreement with the Eurozone before next Monday’s Eurozone finance minister meeting and whether Greece makes its 201 million euro payment to the IMF that is due this Wednesday.

🇺🇸 This Friday’s U.S. April unemployment report, which is expected to show an upward rebound in payrolls to +225,000 from March’s weak +126,000 and a -0.1 point decline in the April unemployment rate to a new 7-year low,

💶 EUR/USD was down ahead of the ECB's next decision on emergency Greek aid in three days.

🇬🇧 U.K. general election on Thursday which is expected to produce another coalition government with the Conservatives and Labour parties running neck-and-neck

🇳🇿 Australian central bank meeting on Tuesday, which is expected to produce a -25 bp rate cut due to the 3-year low in inflation and the sharp drop in mining investment.

🇺🇸 U.S. stocks closed higher, following positive momentum from Europe, as investors looked to Federal Reserve speeches and economic data for signals on the timing of a rate hike.

🇺🇸 Apr ISM manufacturing index was unchanged at 51.5, weaker than expectations of +0.5 to 52.0 and the slowest pace of expansion in 23 months.

🇨🇳 The China Apr HSBC flash manufacturing PMI was unexpectedly revised lower by -0.3 to 48.9 from the previously reported 49.2, weaker than expectations of a +0.2 upward revision to 49.4 and the steepest pace of contraction in a year.

🇨🇳 Chinese stocks closed up +0.87% on speculation the government will boost stimulus after a gauge of Chinese manufacturing activity last month was revised lower.

 Thailand’s baht slumped to its lowest level in five years against the U.S. dollar, as the Bank of Thailand steps up currency-weakening measures in hopes of propping up the faltering economy.

 Oil prices ticked lower on a stronger dollar and weak Chinese manufacturing data.

 Soy garnering additional support on fear of additional Argentine labor strike.

 Dalian Exchange to shorten night-trading hours. Night trading will end at 11:30pm instead of the previous 2:30am next day. Adjustment effective from May 8.