FXPrimus has summarized the important market indicators of the day.

Today’s Important Indicators

Risk appetite shifted investor sentiment away from safe-havens despite escalating US-China trade tensions, finding Dollar higher.

Euro fell while Pound remained somewhat unchanged while Yen saw substantial losses on Kuroda.

Today, market participants will focus on Euro-wide and US data.

Today’s Forecast for Important Trading Indicators

• BTCUSD – Bitcoin goes into a rangebound market, no signs of downward pressure. Bitcoin price moved higher yesterday following a false death cross below $7K over the past few days as buyers saw a good opportunity to enter the market. Price remained above the $7K hurdle, closing the session $460 higher than Monday. $7500 next.

MARKET MOVERS

• EURUSD – Euro moves to golden ratio amid poor market data and a stronger US Dollar. Euro-Dollar closed 70 pips lower from its daily high in the Tuesday session following an array of poor data from Europe and a broadly stronger US Dollar. Price broke below the 61.80% Fibonacci retracement and the 1-month ascending trendline. European inflation data next.

• GBPUSD – Cable holds firm above $1.40 and ascending trendline on optimistic Manufacturing PMI. The British Pound ended the session with an indecision dandle for a 3rd consecutive session yesterday, managing to maintain a price level above the psychological handle of $1.40. Despite a stronger US Dollar added pressure on the pair, Sterling traders increased their long trades paring losses.
• USDJPY – Dollar higher as risk appetite shifts, Yen lower as BoJ’ members discuss exit. The 50% Fibonacci retracement held as a correction level for Dollar-Yen yesterday as investors bough the riskier asset following a shift in appetite. Yen was weak too as Kuroda reported that internal BoJ talks about an exit from monetary tightening inititated. The pair moved 75 pips higher. Markets focus on ADP NFP and the ISM Services PMI.

• USOIL – Oil prices appreciate from 2-week low as API reports surprise inventory draw. WTI rose nearly 60 cents in the Tuesday session following API’s report on the weekly crude oil inventories. API reported a draw of 3.28 million barrels while economists expected a build of 246K. Oil closed the session at $63.50/b. Commodity traders eye EIA.
• XAUUSD – Gold prices fall below $1325/oz as risk returns back to the markets. Gold depreciated yesterday as risk appetite returned back to the markets with investors buying riskier equities and the US Dollar. The precious metal posted over $7/oz losses amid lack of risk aversion and it is likely to remain around those levels ahead of the Nonfarm payroll report this coming Friday.
• US Indexes – DJ soared 1.65% higher, S&P 500 moved 1.26% higher.
• European Indexes – UK 100 fell by 0.13%, DE 30 depreciated by 0.48%.
• Asian Indexes – ASX 200 rose by 0.08%, Nikkei 225 appreciated by 0.13%, Hang Seng trades 1.51% lower.
• US Equities – Tesla surged 5.96% higher, Twitter declined by 1.82%.