FXPrimus has summarized the important market indicators of the day.

Today’s Important Indicators

The Dollar Index recovered nearly all Monday losses in the Tuesday session as fears over a US-China trade war receded.

Currency and commodity markets fell versus a stronger Dollar.

Markets focus on US GDP after a disappointing CB Consumer Confidence.

Today’s Forecast for Important Trading Indicators

• BTCUSD – Bitcoin struggles to recover as price consolidates, market capitalisation losses $10 billion. Bitcoin traded sideways in the Tuesday session, continuing being under pressure following the recent ICO ad ban from Twitter. The performance of the cryptocurrency market over the past 10 days was not been ideal as most pairs consolidated or fell. With good volumes maintained on BTC bulls may take over control soon as price breaks above the triangle pattern.

MARKET MOVERS

• EURUSD – Euro posts losses on poor data and a widely stronger US Dollar. Euro-Dollar lost over 50% of Monday’s gains yesterday following an array of disappointing releases in Europe and a widely stronger US counterpart. The pair declined to the 78.6% Fibonacci retracement near 1.2370 for a correction. Investors seem to be building up some activity around the said level, a break of which could lead price toward 1.2350.

• GBPUSD – Pound pierces $1.4060 intraday, manages to recover some losses but bears maintain control. The British Pound sunk to a daily low of 1.4060, 160 pips lower than the day’s open, following market participants’ move in an attempt to retest the strong support. Price corrected back to the 50% Fibonacci retracement where it ended the trading day. With no major news on the economic calendar technical are likely to dominate for another session.

• USDJPY – Dollar – Yen mixed as both currencies gain on political and economic developments. Dollar strengthened against Yen amid an ease in tariff tensions while the BoJ reported a better than expected inflation numbers. Directional bias on the pair was mixed as a result of the two events, keeping price near 105.30. Today, market player’s eye the US GDP as Consumer Confidence failed to shift market sentiment.
• USOIL – Oil $1.70/b lower from daily high following API Crude inventory build, EIA next. WTI lost a massive $1.70/b in the Tuesday session after API reported a major Crude Oil inventory build of 5.321 million barrels while economists expected a draw of -2.739 million barrels. Following a boost since last week due to geopolitical tensions, investors were given reason to take profits ahead of EIA. Oil trades at $64.63/b (6:54 GMT)
• XAUUSD – Gold declines as investors’ appetite for safe-havens subdues following fading trade war fears. Gold depreciated nearly $8/oz on Tuesday as investor appetite for riskier assets rose following hopes that US and China will reach an agreement soon. Gold reached a fresh 7-week high before falling to a daily close of $1344.60/oz. Traders eye today’s US GDP for extra signs on future price direction.
• US Indexes – DJ and S&P 500 fell by 1.43% and 1.73% respectively.
• European Indexes – UK 100 depreciated by 0.53%, DE 30 trades 0.33% higher.
• Asian Indexes – ASX 200 declined by 0.75%, Nikkei by 1.37%, Hang Seng trades 1.72% lower.
• US Equities – Twitter plunged by 12.00%, Tesla also plummeted but by 8.22%.