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March 20, 2018

FXPRIMUS, Daily Analysis: Markets' Focus on Inflation Data amid a Trump trade war

Dollar Falls as Concerns Over Trade War Persist.

This article is originally referred from FXPrimus News.

FXPrimus has summarized the important market indicators of the day.

Today’s Important Indicators

Dollar saw a declined in the Monday session as investors remain worrisome amid a Trump trade war and while other major currencies strengthened.

Gold and Oil closed somewhat unchanged. Today, market participants shift focus on the UK’s inflation data.

Today’s Forecast for Important Trading Indicators

Market Movers

  • EURUSD – Euro rises despite poor Euro-wide data as risk sentiment in Dollar shifts. Euro appreciated above $1.23 against the Dollar as trade war fears weighed in on the latter, taking Euro 60 pips higher despite an array of poor data from Europe. German industrial sector supported the European currency perform as Bundesbank reported solid figures. Investors eye the German ZEW Economic sentiment today at 10:00 GMT.
EURUSD 30-MINS CHART
  • GBPUSD – Pound breaks $1.40 on Brexit transition deal, inflation and BoE next. The British Pound pierced through the $1.40 handle yesterday after news that London and Brussels have announced a transition period following UK’s exit from EU. The pair saw 180 pips rise from the daily low after the news, closing the day at $1.4023. Investors focus on the CPI figures this morning at 09:30 GMT.
  • USDJPY – Dollar-Yen mixed for a 6th session as Dollar weakness off-set by cautious BoJ minutes. Dollar-Yen was mixed yesterday despite Dollar’s weakness on fears over a Trump trade war as the Japanese Yen delivered a trade deficit, the first since October 2015. The pair could remain mixed ahead of the widely anticipated hike tomorrow, or move higher as investors start pricing the event in.
USDJPY 1-HOUR CHART
  • USOIL – Oil mixed as sanctions against Russia add geopolitical risks. WTI held firm above the $62 per barrel following Friday’s surprising rise as US President Trump is pushing on several sanctions against Russia while the Saudi King visited the US. Oil prices are currently moving higher despite a raising US production as Oil stocks are declining.
  • XAUUSD – Gold ends the session positive but on a neutral note as gains only marginal. Gold moved a tad higher in the Monday session following a balance in investor risk sentiment as both the US Dollar and the Japanese Yen were weak. The precious metal gained nearly $2/oz and closed the session forming a bullish doji candle.
  • US Indexes – DJ plunged by 1.35%, S&P 500 followed with a -1.42%.
  • European Indexes – UK 100 trades 0.38% higher, DE 30 0.27% lower.
  • Asian Indexes – ASX 200 fell by 0.39%, Nikkei 225 declined by 0.47%, Hang Seng trades 0.02% higher.
  • US Equities – Alphabet plummeted by 3.03%, Facebook by a huge 6.77%.

Original Source: FXPrimus News

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