FXPrimus has summarized the important market indicators of the day.

Today’s Important Indicators

Currency markets were under pressure in the Thursday session following Trump’s announced tariffs while the US Index saw marginal gains.

Equities and Commodities also fell following the announcement.

Markets focus on Canadian Inflation and US Production data.

Today’s Forecast for Important Trading Indicators

Market Movers

  • EURUSD – Euro moves 0.35% lower against Dollar as Euro-wide data disappoint. Euro-Dollar declined to the 61.80% Fibo retracement yesterday amid an array of disappointing data in Europe. After a daily high at $1.2388 price sow a correction down to the $1.23, where it reversed its course. Without any news on the horizon, today investors are will most likely focus on technical analysis.
EURUSD 1-HOUR CHART
  • GBPUSD – Pound eases from recent highs despite good fundamentals as lack of Brexit progress kicks in. The British Pound lost 40 pips yesterday after reaching a 7-week high at $1.4212 as investor lack of knowledge on Brexit developments kicked in. The move effectuated despite the good Retail Sales figures and the MPC votes while BoE held the rates unchanged. Traders bet around $1.41 this morning.
  • USDJPY – Yen pressures Dollar lower despite poor CPI, US Jobs Claims rise. Dollar-Yen reached a 3-Week low at 105.26 following Trump’s announcement of a $50 billion trade tariff on Chinese imports. The pair declined as investors sentiment shifted to Yen despite the Japanese economic indicator of Inflation came out as expected. This morning price reached a 16-Month low just ahead of the US Core Durable Goods Orders.
  • USOIL – Oil falls following 7-week high as uncertainty around forecast lingers. WTI rose to a 7-week high of $65.636 per barrel in the Thursday session before reversing its course and dipped to $64/b, where the 23.60% Fibo betides. The commodity fell amid a supply/demand forecast war between oil companies and supermajors.
OIL 1-HOUR CHART
  • XAUUSD – Gold somewhat unchanged with a bearish bias following FOMC. Gold lost $3 Dollars yesterday following a massive upsurge from $1309 as investors took some profits out from the market and also started digesting Fed’s remarks on inflation. Price on Gold is moving higher as risk appetite shifts as Trump signs trade tariff, investors cautious.
  • US Indexes – DJ nosedived by 2.93%, S&P 500 followed with a drop of -2.52%.
  • European Indexes – UK 100 plunged by 1.23 %, DE 30 by -1.70%.
  • Asian Indexes – ASX 200 plummeted by 2.81%, Nikkei crashed by 4.51$%, Hang Seng trades 2.77% lower.
  • US Equities – Bank of America sunk by 4.14%, Twitter by -4.67%.
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