FXPrimus has summarized the important market indicators of the day.

Today’s Important Indicators

Today the Eurozone is due to release a number of its Manufacturing and Services PMI reports between 07:00 and 08:00.

The German Services and Manufacturing reports at 07:30 are normally more relevant to Euro fluctuations, however, the impact may be limited in anticipation of Draghi’s speech on Thursday.

US is scheduled to release its Markit PMI figures at 13:45 and later in the session the API Crude Stocks.

Near session end at 21:45 New Zealand is going to publish its latest employment data.

Today’s Forecast for Important Trading Indicators

Market Movers

• USD/JPY – Yen fills opening gap created from election results, produces a pullback on Dollar-Yen. Dollar folded against Yen by yesterday’s session end after having reached a 3-Month high at 114.09. Price fully retraced all the way back to Friday’s close and below to a low of 113.23, and is currently pushing higher for what could potentially end up being a correction. Investors keep a close eye on Fed Chair Yellen’s replacement, if replaced, as President Trump is going to announce soon.
• EUR/USD – Euro falls on German data, Catalonia uncertainty remains in but Euro remains firm. Euro opened lower yesterday on a strong Dollar amid Japan’s Abe electoral win and declined further on a weak private sector in Germany. Despite the Spain – Catalonia crisis, the pair moved higher but still trades ~500bp below the $1.18 key level. EUR/USD was pushed higher from a low of 1.1723 on a 16-Year high Consumer Confidence and a weakening Dollar. Investor focus on today’s PMI reports.

• GBP/USD – The British Pound breaks above key $1.32 after positive developments around Brexit. Sterling appreciated from a daily low of 1.3155 to a daily high of 1.3212 against Dollar owed to BoE’s Cunliffe remarks that Britain is going to maintain the ‘status quo’ as the financial centre of Europe as well as May’s remarks around progress over Brexit talks. Price was rejected at the 1.3226 resistance level, and moves towards the 32 below the 200 1H-MA.

• USOIL – Oil inches higher on record compliance, investors hopeful about tapering supply glut but Oil mixed. Crude Oil raised to a high of $52.30pb as compliance has hit its 10-Month output cut agreement, OPEC said on Monday. The black gold fluctuated during the session and reached a daily low of $51.67pb as EIA reported that global Oil supply disruptions slid the lowest since 2012. Market players remain tuned for tonight’s API report on Crude Stocks.
• XAU/USD – Gold retrieves losses from 2-Week low on persisting QE programmes as Abe wins election. Spot Gold turned positive after reaching a 2-Week low at $1272.40 hitting a daily high of $1283.50 as Abe’s fresh mandate signals a continuation of the negative interest rate policy. Japanese investors are likely to keep investing in foreign economies and help global interest rates remain stable while Gold will remain the investment of choice for risk-on traders. Gold’s move was supported by profit taking on USD/JPY.
• In U.S Indexes S&P500 closed 0.40% and DJ 500 followed with a decline of 0.23%.
• In Europe UK 100 closed unchanged while DE30 tilted a little 0.09% higher.
• In Asia ASX 200 appreciated 0.09%, Nikkei upsurged 0.50% and Hang Seng plummeted by 0.54%. In stocks Twitter plunged 2.80% with Tesla following at -2.34%.