Europe wide Data to Guide Market Sentiment.
This article is originally referred from FXPrimus News.
FXPrimus has summarized the important market indicators of the day.
Today’s Important Indicators
Both DOLLAR and POUND remained unchanged yesterday while the EURO slid 60 pips as top weighed in.
Today, an array of reports is expected to be released yet their impact on the financial market is likely to be limited as reports only of minor importance.
Today’s Forecast for Important Trading Indicators
- EURUSD – EURO dips below 1.20 hurdle as German data and technicals weigh in. EURO fell following a bad German Factory Orders report on a soggy Monday. The pair declined to daily low of 1.1955 and ended the session a few pips above as a double top formation was another reason investors sold-off the Euro-dollar. On the indicators perspective an array of reports is scheduled in for today, reports than may not have a big impact on the market as their impact is moderate to limited.
- GBPUSD – POUND remains firm above 1.35 levels yet range gets tighter. The British Pound closed with a battleground between bulls and bears for a second consecutive session for what may seem as a building-up momentum eyeing the 1.3613 level, where the 61.80% Fibonacci Extension betides. The limited action and observing rather than trading is likely to see changes until the end of this week, or, if earlier, until a reshuffling of the UK cabinet takes place.
- USDJPY – DOLLAR steady versus YEN as investors attempt to pare recent losses, effect short-lived. DOLLAR managed to hold firm against YEN yesterday as bull investors gave a battle to maintain control. Despite no change was seen compared to last session bulls showed their strength. This changed this morning when BoJ trimmed the Japanese Government Bonds (JGB) buys. Dollar-yen currently trades 35 pips lower, having reached a daily low of 112.50 (55 pips from opening).
- USOIL – USOIL mostly flat but continues the bullish rally as it reached a fresh high of $62.47. Oil surged to a fresh high of $62.47 this morning following speculations amid OPEC-led production cuts. Yesterday, the black gold remained mainly unchanged while the freight ship tragedy in East China continues. In addition, OIL was mixed as Trump’s Draft Proposal Program (DPP) for offshore drilling is being opposed but many governors.
- XAUUSD – GOLD unchanged around $1320/oz, follows DOLLAR’s lead. Spot GOLD had a somewhat illiquid and mixed session yesterday following USD as risk-off sentiment declined due to US Stocks hitting all-time fresh highs. It may be the case that this is only some profit taking while gold-bulls have the technical advantage and may be expecting solid gains.
- US Indexes – DJ remained unchanged, S&P 500 rose by 0.17%.
- European Indexes – UK 100 plummeted by 0.36%, DE 30 saw a rise of 0.22%.
- Asian Indexes – ASX 200 tilted 0.08% higher, Nikkei surged 0.57% and Hang Seng trades 0.37% higher.
- US Equities – Tesla upsurged a massive 6.26%, Amazon followed with a daily increase of 1.44%.
Original Source: FXPrimus News