FXPrimus has summarized the important market indicators of the day.

Today’s Important Indicators

Majors closed somewhat unchanged in the Wednesday session despite market-implied probability for June FOMC edged up to above 70% as the US CPI report came out sluggish while geopolitical worries surrounding Russia and Middle East weighed in.

Euro, Pound and the US Index held steady but safe haven Yen and the Gold rose. Oil gained against Dollar too.

Market participants shift their focus on ECB and Carney.

Today’s Forecast for Important Trading Indicators

• BTCUSD – Bitcoin steady for another session, prices hold within triangle pattern. Although BTC attempted to near $7K yesterday and the fact that price has been relatively steady over the past six sessions the rebound has not been as many would have wanted. While investors eye a break of the $7K barrier and expect fresh highs, it is likely that small losses are to be posted intraday before the descending trendline of the hourly chart below breaks.

MARKET MOVERS

• EURUSD – Euro steady against Dollar as geopolitical concerns overshadow session. Euro-Dollar rose to $1.2395 intraday in the Wednesday session amid a weaker Dollar as profit-taking kicked in just below $1.24 psychological on poor US data and geopolitical uncertainty. The pair ended the day with an indecision candle, that has proved to be a signal for a reversal in the past, however, the reversal may occur on a higher level near the descending trendline.

• GBPUSD – The British Pound hits a fresh 2-week high, bears take over on $1.42 psychological. Cable ended Wednesday’s session steady despite reaching a fresh 2-week high as the psychological $1.42 acts as barrier to longs while concurrently the Manufacturing Production disappointed. With Dollar being negatively biased the pair closed at $1.4170, nearly 50 pips lower than the day’s high. Market participants look forward to Carney’s speech at the Public Policy Forum’s Canada growth summit.

• USDJPY – Dollar falls against Yen on safe-haven demand and on poor US inflation figures. Dollar-Yen fell 45 pips yesterday following some bearish pressure amid a contractionary US CPI and on Trump’s challenge to Syria and Russia.The pair ended with the 23.6% Fibonacci retracement, where Tuesday’s open occurred. Players patiently wait for news headlines to decide on directional activity.

• USOIL – Oil hits multiyear high on geopolitical risk despite EIA reports inventory build. WTI soared to a high of $67.34 yesterday, piercing the strong resistance intraday, as Trump’s twits on Syria played in. Despite EIA reporting a crude oil stocks build of 3.3 million barrels oil traders went long, supporting earlier trade-war bulls. End of week flow is likely to kick in while the break or breath is now a 50-50.

• XAUUSD – Gold posts substantial gains on geopolitical developments yet remains within range. Gold soared nearly $30/oz intraday following news headlines on Syria, Russia and the prevailing trade war concerns, finding a fresh 10-week high at 1$365/oz. As relations between US and Russia are not likely to get better risk appetite may remain at subdued levels. Double top formation may lead to reversal.

• US Indexes – DJ lost 0.90% intraday, S&P 500 fell by 0.55%.
• European Indexes – UK 100 fell by 0.10 %, DE 30 saw a fall of 0.24%.
• Asian Indexes – ASX 200 depreciated by 0.24%, Nikkei 225 declined by 0.87%, Hang Seng trades 0.75% lower.
• US Equities – bank of America declined by 1.80, Facebook rose 0.78%.