FXPrimus has summarized the important market indicators of the day.

Today’s Important Indicators

Despite the Italian and German political risk stayed out of the way in the Tuesday session, news that North and South Korea are likely to normalise ties moved risky assets lower.

EURO rose while DOLLAR subsided.

GOLD was the best performer while OIL closed the session mixed and with a bearish bias.

Today market participants will focus on BoC’s Rate Statement, ADP NFP and the WTI stocks.

Today’s Forecast for Important Trading Indicators

Market Movers

  • EURUSD – Euro bullish rally on for a 4th consecutive session as Korea risk weighs in on DOLLAR. Euro-Dollar closed 75 pips higher yesterday after a tight Monday following news on North and South Korea talks on denuclearization and normalising ties. Action in the markets saw the pair breaking above the 61.80% FE at $1.24, a move that could take price higher to 1.2467-1.2479 levels.
EURUSD 1-HOUR CHART
  • GBPUSD – POUND extends gains despite London-Brussels recent tensions, USD broadly weaker. The British Pound continued its upward move despite no economic news were due and despite the recent tensions between London and Brussels on the Brexit agreement as a broadly weaker US counterpart supported the movement. Charts could see the pair moving lower as a bearish convergence develops on the 4-hour chart while the triangle ascending trendline acted as a resistance.
GBPUSD 4-HOUR CHART
  • USDJPY – DOLLAR mixed vs YEN despite sell-off on Korea as latter posts small losses on poor data. DOLLAR closed the session against YEN forming an indecision candle following a sideways trade between 105.85-106.45 range. The pair gained on a broadly weaker DOLLAR yet only temporarily as the effect was taken away and the market reversed on as Japan’s Coincident indicator fell. YEN is currently pushing lower.
  • USOIL – OIL falls to form a bearish indecision candle following API report as weekly build major. WTI saw an intraday high at $63 per barrel before falling to a close at the support of $62.20 amid a disappointing API report. API reported a build of 5.661 million barrels, nearly double the economists’ expectations. Commodity investors eye today’s EIA report at 15:30 GMT.
  • XAUUSD – GOLD soars $15 per ounce as risk appetite alleviates following Korea news. GOLD reached a daily high of $1338 yesterday as concerns over Trump’s tariffs and a potential trade war weighed in while a weaker DOLLAR on North vs South Korea news resulted in a lower currency as well as an increase in GOLD net-longs. Over the next day’s action is likely to be seen as bank’s rates and the US Jobs report are due.
  • US Indexes – DJ tilted a marginal 0.04% higher, S&P 500 saw a 0.26% raise.
  • European Indexes – UK 100 rose by 0.43%, DE 30 appreciated by 0.19%.
  • Asian Indexes – ASX 200 plunged by 0.93%, Nikkei 225 plummeted by 0.77%, Hang Seng trades 1.01% lower.
  • US Equities – Amazon soared by 0.92 %, Tesla nosedived by 1.54%.
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