FXPrimus has summarized the important market indicators of the day.

Today’s Important Indicators

Markets reversed out Dollar’s weakness in the Tuesday session while market participants seem to start pricing in for the widely anticipated hike.

Counter-majors fell as a result of the expectations while equities remained somewhat unchanged on the back of Facebook’s lasting woes.

Markets focus on the UK Jobs report and Rate Statements from FOMC and RBNZ.

Today’s Forecast for Important Trading Indicators

Market Movers

• EURUSD – Euro down following weak ZEW Economic Sentiment, pair ends session 95 pips lower. Euro depreciated at $1.2240 against the Dollar following Eurozone’s ZEW Economic Sentiment Index release as it plunged to 13.4, a figure more than 50% lower than last month’s 29.3. Euro-Dollar broke beyond the 61.80% Fibo yesterday but traders have managed to reverse price action this morning.

• GBPUSD – Pound edges lower after poor CPI figures, bulls keep the price above $1.40. The British Pound fell during Tuesday’s session as UK inflation slowed to 2.7% last month, while economists’ expectations were in for a 2.8% figure. The pair declined after forming a double top and following an upsurge amid a Brexit transition deal between London and Brussels.

• USDJPY – Dollar-Yen higher on Japanese holiday as Dollar rises ahead of FOMC. Dollar-Yen was moved 43 pips higher yesterday breaking the 103.27 resistance while the Japanese markets were closed for Vernal Equinox Day. With no economic or political development in the US, in the Tuesday’s session, Dollar was solely affected by reversed investor sentiment ahead of the widely anticipated US rate hike. The pair is currently trading a tad lower than yesterday’s close.
• USOIL – Oil surges $1.50/b higher as API huge draw surprises, EIA next.WTI rose to $63.60 per barrel in the yesterday session as the US Dollar picked some steam while investor sentiment shifts ahead of FOMC. API reported a draw of 2.739 million barrels, a huge draw compared to expectations, taking Oil price higher. Commodity traders look forward to the EIA report.
• XAUUSD – Gold turns negative as Dollar bulls gain control amid Fed’s announcement.Gold moved lower yesterday as Fed is poised to raise interest rates today, driving the US Dollar value higher. The precious metal closed the session at $1310/oz, nearly $8/oz lower than the opening price. Inflation concerns and geo-events are likely to take over control on sentiment following the FOMC’s statement.
• US Indexes – DJ rose by 0.47%, S&P 500 followed with a +0.15%.
• European Indexes – UK 100 trades 0.17% lower, DE 30 0.15% lower.
• Asian Indexes – ASX 200 gained 020%, Hang Seng trades 0.51% lower.
• US Equities – Twitter plunged by 10.38%, Amazon saw a 2.69% raise.