FXPrimus has summarized the important market indicators of the day.

Today’s Important Indicators

Markets traded sideways yesterday following a quiet session a day ahead of the critical US inflation data.

All majors remained unchanged but Yen fell as demand for risk-averse assets remained subdued.

Conversely, Oil kept moving higher as the US withdrew from the Iran deal.

Investors shift focus to the long-awaited CPI release, while European banks are closed in observance of Ascension Day.

Today’s Forecast for Important Trading Indicators

• BTCUSD – Bitcoin steady above $9.2K, liquidity remains at low levels for another session. Bitcoin price stayed firm above the $9K handle for another trading day as investors wait for big volumes to play in before going long. With the MACD and RSI near the 0 and 50 lines it is now possible that bears could take over control too. Next few days will be critical.

MARKET MOVERS

• EURUSD – Euro unmoved above Fibo extension, trading session lacking indicator. Euro-Dollar traded sideways in the Wednesday session as no economic indicators were scheduled in and the US Dollar remained mixed. Price is at a critical junction above 1.1850, a level which will prove its strength today.

• GBPUSD – Cable forms a “doji” candle for another session, break likely to come soon. Sterling continued its moderate trading activity on Wednesday as investors wait for today’s inflation report and the interest rate decision, a widely expected “hold”. With the British Pound being on the side-lines between 1.35 and 1.36 over the past few days, it is likely that a break will follow up very soon, either up or down.

• USDJPY – The Yen loses ground against the Dollar as demand for safe haven declines. The Dollar-Yen rose some 80 pipis yesterday following a sell-off of the safe-haven Yen as demand for the risk-free asset fell. Price confirmed a somewhat bullish retracement at the 38.2% Fibo near 108.80 taking into consideration its recent bullish move. 110 next.

• USOIL – Oil prints 3 ½ year record high following EIA, continues bullish rally after Iranian deal. WTI broke above the 161.8% Fibo extension in the Wednesday session, building further up its bullish momentum after EIA reported 2.2 million barrels draw while analysts expected a build-up. Price seats at 100% extension of the second upward leg, a level likely to “break” or “fake”.

• XAUUSD – Gold neutral again despite US delivering poor data as safe-havens lose traction. Gold traded within the same range of 1317 and 1306 yesterday as activity remained at subdued levels. With Yen taking up all the losses, Gold price managed to firm strong and unchanged, closing the session at 1313/oz. Market participants will seek opportunities today as risk events near.

• US Indexes – DJ closed 0.75% higher, S&P 500 surged higher by 0.97%.
• European Indexes – DE 30 opens 0.2% lower, UK 100 trades 0.16% higher.
• Asian Indexes – ASX 200 tilted 0.19% higher, Nikkei 225 rose by 0.39%, Hang Seng trades 0.96% higher.
• US Equities – Twitter appreciated by 1.66%, Amazon fell by 0.48%.