FXPrimus has summarized the important market indicators of the day.

Today’s Important Indicators

DOLLAR moved higher in the Monday session following a global equity sell-off as investors started taking profits.

EURO and POUND fell following the shift in sentiment despite good data in the Eurozone.

OIL declined amidst the US currency’s strength while GOLD rose as demand for safe-haven increased after the panic sell started.

Markets will focus on the Canadian trade Balance and New Zealandian Employment report.

Today’s Forecast for Important Trading Indicators

Market Movers

• EURUSD – EURO breaks below $1.24 against DOLLAR as correction continues. EURO seems to have found a top at the $1.25 hurdle as the bearish correction continues amid a global equity sell-off. Investor risk aversion shifted market appetite taking the pair to 1.2365 level, the bottom of the 150 pips range, whereas the top betides at $1.25. Positive Eurozone data discounted rapidly.

• USDJPY – YEN moves DOLLAR on the downside as Asian Equities suffer huge losses. The Dollar-Yen pair declined in the Monday session as Asian equities got hammered with Nikkei seeing a 7% drop on the day, the largest decline since 1990. Sentiment on the pair was bullish amid the US Equities downturn, however, the US/JP Bulls battle kept price above the 109.00 handle owed to good US data.
• GBPUSD – POUND falls below $1.40 after 8 sessions following panic sell-off. CABLE plummeted over 1% yesterday following a general panic sell-off in the global equities markets as institutional investors started taking profits and markets correcting. The $1.40 is likely to act as a battleground level, where either the bulls or bears will take control over one another. If the fall continues, possibilities are that the pair will move lower.
• USOIL – OIL prices dragged lower amid US Equities turmoil and anticipate March rate hike. WTI price declined $1.7 per barrel owed to the broader sharp turmoil of the financial markets and the rise of USD. Investors pushed price lower to a deeper correction as chances that an US interest rate hike will eventuate in March increased. The take-profit started last Friday following speculations.
• XAUUSD – GOLD prices higher as risk appetite shifts to safe-haven following panic selling. Spot GOLD rose $7/oz in the Monday session following a global sell-off in global markets and an upward pressure due to a correction on the 23.60% Fibonacci. As long as the 1327 level holds bulls are likely to extend price towards 1350.

• US Indexes – DJ fell by 4.60%, S&P 500 by -4.10%.
• European Indexes – UK 100 declined by 1.46%, DE 30 depreciated by 0.76%.
• Asian Indexes – ASX 200 plummeted by 3.23%, Nikkei 225 by -4.73%, Hang Seng trades 4.47% lower.
• US Equities – BoA plunged by 5.29%, Exxon Mobil by -5.69%.