FXPrimus has summarized the important market indicators of the day.

Today’s Important Indicators

Earlier in the Asian session the Bank of Japan announced its latest rate decision, where it kept the rates unchanged at -0.10%.

At 06:30 BoJ’s Press Conference eventuated.

For the rest of the day, Eurostat is scheduled to publish the latest CPI and GDP figures, at 12:30 Canada will publish its own GDP figures, at 14:00 the US will publish its monthly Consumer Confidence survey, at 19:30 Poloz Speech will start and finally at 21:45, New Zealand will release its quarterly Employment report.

Today’s Forecast for Important Trading Indicators

Market Movers

• GBPUSD – Pound surges above $1.32 in anticipation of BoE upcoming rate hike. The British Pound rose from a weekly open of 1.3116 to a daily high of 1.3214 and currently trades near 1.3220, where the 161.80% FE lays. Cable stormed higher as investors expect BoE to raise interest rates after a long period of 10 years. BoE is scheduled to announce its decision on Thursday the 2nd of November.

• USDJPY – Dollar withdraws below the ascending trendline that started on September 8. Dollar-Yen fell below the ascending trendline started on the 8th of September reaching a 10-Day low as Federal investigators found President Trump’s former campaign manager charged for money laundering. Dollar started falling yesterday as investors began taking profits ahead of Fed’s decision; due tomorrow. BoJ’s interest rate decision had no noticeable effect on the markets.

• EURUSD – Euro tilts higher near 1.1657 on European data, weaker Dollar. Euro rose against Dollar amid a series of data coming from the Eurozone. In addition, the move was supported by hopes that the asset purchases will gradually slow in line with the economy and ECB’s targets. Despite the PCE accelerating in the US, this had no noticeable effect neither on Euro and Dollar. Market participants eye the inflation and growth data; expected to come out today.
• USOIL – Oil hits a fresh 8-Month high ahead of quarterly earnings report amid Iraqi pipeline disruption. Crude Oil climbed to $54.52 per barrel and closed below the 161.80% extension of $54.16 as supply flow between Kirkuk and Ceyhan was disrupted from around 500K to 250K barrels per day. The problem is likely to persist until a bypass pipeline is repaired.
• XAUUSD – Gold recovers losses as Dollar weakens, risk-on appetite slightly increases. Spot Gold moved to a 3-Day high as Dollar eased from 4-Month highs as it has been reported that former aides of President Trump were investigated and charged with money laundering charges. While market risk expands, the US President prepares to announce the next Fed Chair; likely to be announced this coming Thursday.
• In US Indexes, both S&P500 and DJ declined for 0.32% and 0.36% respectively.
• In Europe, UK 100 depreciated by 0.23%, while DE 30 appreciated a marginal 0.09%.
• In Asia, ASX 200 declined by 0.12%, Hang Seng trades 0.05% lower and Nikkei closed unchanged.
• In stocks, Twitter fell by 1.98% while Apple surged 2.25% higher.