FXPrimus has summarized the important market indicators of the day.

Today’s Important Indicators

Dollar weakened in the first trading day of the week despite last week’s geopolitical concerns surrounding US and Syria as US President Trump “attacked” China and Russia for currency devaluation.

Euro and Sterling gained over the “soft” Dollar, Gold remained firm above $1345 and Oil fell.

Market players expected an array of economic indicators as well as speeches from key bank members.

Volatility is likely to be high today.

Today’s Forecast for Important Trading Indicators

Market Movers

• BTCUSD – Bitcoin sees small decline on profit-taking, price bullish outside triangle. The price of Bitcoin fell nearly $300 per coin in the Monday session in a move that looked like a take profit following the upside break of the triangle pattern. With volumes having increased and price remaining above the said levels for a 2nd consecutive session investors are likely to become more confident over the course of the next couple of days.

• EURUSD – Euro poised for higher levels as price retests last week’s high, Dollar broadly weaker. Euro-Dollar hit an intraday high at $1.2395 yesterday following a rather disappointing session for the US counterpart despite the positive Retail Sales figures. With a double bottom at the 50% Fibo retracement at $1.23 price is likely to head towards $1.24 as buyer’s confidence above 60 MA holds firm. Traders in for German ZEW at 09:00 GMT.

• GBPUSD – Pound towards $1.44 following pre-Brexit record high while Dollar extends losses. Cable rose to a pre-Brexit high of $1.4345 on Monday, a level seen again three months ago, as the US Dollar depreciated on geopolitical “softness”. The 7th consecutive bullish session could be an indication of higher highs to be achieved, as the current price indicates already. Investors eye the 1.4390 while expecting the Average Earnings Index; due at 08:30 GMT.

• USDJPY – Upbeat Retail Sales fail to push Dollar higher, price victim of US President Trump. Dollar-Yen lost nearly 40 pips in the Monday session owed to US Dollar weakness just days after the US-China “trade war” brought hopes in the markets. The pair fell amid Trump’s accusation, reaching a daily low at 107.00. Despite Yen traders focus on Abe’s approval rating with cautiousness, the US Building Permits at 12:30 will most likely add to sentiment.

• USOIL – Oil bulls take a breather following multiyear high, price remains bullish above $65.45. WTI fell yesterday as the US -Russia conflict over Syria was notched down following an overnight US strike on suspected chemical weapons facilities linked to Assad. After five sessions of upside momentum, this move was expected from a traders’ perspective too. As long as price remains above the strong support at $65.45 price is likely to remain bullish.

• XAUUSD – Gold steady as geopolitical concerns subdue, investors indecisive as apex approaches. Gold remained unchanged on Monday following some “softness” surrounding geopolitical concerns while price approaches to a breakout level. The precious metal closed at $1340 per ounce despite a positive US Retail Sales as risk appetite subdued owed to shift in asset trading despite a US strike on Assad’s chemical weapons facilities. Investors remain locked-in for “fresh” developments.

• US Indexes – DJ soared by 0.87%, S&P 500 rose by 0.81%.
• European Indexes – UK 100 saw a marginal decline of 0.06%, DE 30 appreciated by 0.29%.
• Asian Indexes – ASX 200 ended 0.02% higher, Nikkei 225 increased by 0.06%, Hang Seng trades 0.87% lower.
• US Equities – Tesla declined by 3.04%, Alphabet rose by 0.97%.