FXPrimus has summarized the important market indicators of the day.

Today’s Important Indicators

Bitcoin was the centre of attention for another session yesterday as the increasingly known Cryptocurrency reached a fresh all-time high of $11.359 per coin.

During Wednesday’s session Dollar and the British Pound also saw great gains while the two most traded commodities, Gold and Oil, suffered some losses.

On the action front, markets are expected to provide some good opportunities today around the release of the European CPI and the US PCE Index.

Today’s Forecast for Important Trading Indicators

Market Movers

• BTC/USD – Bitcoin marches to new all-time high, corrects on profit taking by institutional investors. Bitcoin surged to a new fresh all-time high of $11.359, following an increased demand from institutional investors. With the market capitalisation hitting a record high of $346 billion BTC/USD buyers sold-off the pair to take profits. Bitcoin corrected to $8.8K yet remains bullish above $10K.
• GBP/USD – Pound hits a 9-week high as UK-EU come closer to a Brexit deal. Pound boosted ~115 pips higher during Wednesday’s session following reports that EU and UK agreed to a deal regarding the divorce terms. Sources say that the Brexit Divorce Bill will be between $45 and $55 billion, however, the final figure is deliberately being left open “depending on how each side calculates the output from an agreed methodology”.
• USD/JPY – Dollar extends gains on fundamentals and hopes of big tax cuts. Dollar reached a 1-week high following a positive Q3 GDP release and increasing hopes of big tax cuts. Despite Yellen’s negative remarks for the Dollar, USD/JPY broke past the psychological 112.00 level, heading towards 112.50, while investors are waiting for economic news.

• USOIL – Oil nosedives below $57/b on worse than expected EIA Crude Stocks. Crude Oil reached a daily low of $56.76 per barrel following a disappointing report from EIA. Economists were expecting a print of -2.5M while the real figure delivered missed expectations for nearly million barrels. Price of Oil has since recovered some losses and trades near $57.50 while OPEC’s official summit continues.
• XAU/USD – Gold plummets to weekly low of $1280/oz while Dollar strengthens. Spot Gold fell some $10 per ounce following reports from the US on Q3 GDP and increasing hopes on Tax legislation. The pair has fallen after reaching the psychological $1300 barrier two days ago while tensions between US-NK intensified. On the 4-hour chart spot retested the 200MA.

• US Indexes – DJ rose 0.44%, S&P 500 fell by 0.04%.
• European Indexes – UK 100 plummeted by 0.90%, DE 30 closed unchanged.
• Asian Indexes – ASX 200 declined by 0.64%, Hang Seng trades 1.42% lower.
• US Equities – Twitter plunged 4.76% with Facebook following behind with a 4.00% drop.