FXPrimus has summarized the important market indicators of the day.

Today’s Important Indicators

Dollar posted strong gains in the Wednesday session as risk returned to the markets following an upward revision of the US GDP from 2.5% to 2.9% while economists expected a 2.7% figure.

Currency and commodity markets were under pressure amid fresh investor sentiment.

Today is a very eventful day for the markets with the highlight being the US PCE.

Today’s Forecast for Important Trading Indicators

• BTCUSD – Bitcoin declines to $7500 Fibonacci extension as CME sell volumes weigh in. Bitcoin traded within the boundaries under the trendline started on January 5, maintaining a somewhat bearish outlook, however, price has now reached the 161.80% extension of the ABC formation as volumes and liquidity increase. At the same time the both MACD and the RSI show a bullish convergence, increasing the chances of a reversal

MARKET MOVERS

• EURUSD – Euro posts nearly 100 pips losses amid a stronger US counterpart, end of month flows kick-in. Euro-Dollar ended the session tat Friday’s close yesterday following a widely stronger US Dollar that finally played in despite the attempt from euro bulls as the end of month flows played in. Price moved beyond the 50% Fibonacci retracement at 1.2315 but still remains bullish above the trendline.

• GBPUSD – Cable breaks below $1.141 despite positive headlines as market risk sentiment shifts. The British Pound declined to 1.4070 against the Dollar in the Wednesday session despite some positive headlines surrounding the Irish border issue as the latter saw an upward revision of 2017 Q4 GDP. Although the pair lost some 80 pips, the losses were much smaller compared to Euro.
• USDJPY – Safe-haven Yen suffers substantial losses on upbeat US fundamentals. Dollar strengthened against Yen seeing an acceleration of 150 pips as the US Final GDP impressed with a substantial rise of 2.9% compared to the last figure of 2.5% and a 2.7% expectation. Price was rejected near 107.00 while markets wait for the PCE release, the Fed’s favorite inflation measure, at 12:30 GMT.

• USOIL – Oil prices fall intraday on EIA confirmation but manage to end session mixed as bulls react. WTI posted a dollar losses intraday following EIA’s release on Crude inventories as the report confirmed API’s build. Bulls didn’t lose the chance and pushed price higher after retesting the $64.10 support for a daily close of $64.60, forming an indecision candle.
• XAUUSD – Gold slips $20 dollar per ounce on strong US GDP as risk appetite changes. Gold depreciated nearly $20/oz on Wednesday as investor appetite for riskier assets rose following a positive US GDP revision. Price moved below $1325/oz as the markets shifted focus away from safe-havens on some de-escalation on North Korea and US.
• US Indexes – DJ closed unchanged, S&P 500 fell by 0.29%.
• European Indexes – UK 100 trades 0.10% higher, DE 30 trades 0.13% higher.
• Asian Indexes – ASX 200 declined by 0.51 %, Nikkei surged by 0.61%, Hang Seng trades 0.31% higher.
• US Equities – Amazon plunged by 4.38%, Twitter rose by 1.35%.