FXPRIMUS, Daily Report: Investors' focus on US PPI and the New Zealand interest rate decision
Trump Withdraws from Iranian Nuclear Deal, Market Volatility Looms.
This article is originally referred from FXPrimus News.
FXPrimus has summarized the important indicators of the day.
Today’s Important Indicators
Safe havens have stalled despite a risk announcement from US President Trump as markets expect some sort of negotiations before sanctions are imposed.
The Euro fell against the Dollar while other majors remained unchanged for another session.
Investors eye the US PPI and the New Zealand interest rate decision while EIA releases its weekly stocks figures.
Today’s Forecast for Important Trading Indicators
- BTCUSD – Bitcoin halts by the 23.6% Fibonacci retracement, $9K level becomes stronger. Bitcoin price finds the $9K bottom once again, support becomes stronger having been retested many times. Cryptoinvestors patiently wait for big volumes to return so that fresh opportunities are identified.
- EURUSD – Euro falls despite positive German data, further downside possible. Euro-Dollar moved away from the golden ratio, finding support at the 161.8% Fibonacci extension near 1.1850. With no major European economic announcements today, the Euro is likely to be largely dependant on the US Dollar.
- GBPUSD – Pound ends session unchanged despite intraday decline on poor housing inflation. Sterling had another “battleground” day yesterday and managed to clear the session with a balance between bulls and bears despite having reached a 4-month low following the release of a bad HPI indicator. Price holds just above the 100% Fibonacci extension.
- USDJPY – Yen remains mixed for a third consecutive trading day against Dollar, breakout looms. Dollar-Yen traders were more active in the Tuesday session as volatility levels increased marginally following a quiet Monday. With risk appetite remaining muted, price formed another indecision candle. Today, expectations may change as the PPI inflation figures loom.
- USOIL – Oil closes session unchanged but bulls impress again considering $2.5/b return. WTI hit a low of $67.90 on Wednesday following a sell-off ahead of a widely expected Trump announcement. Despite the US withdrawal from the nuclear deal, Oil traders bought the commodity massively and managed to reach the opening price. EIA will play its part today as the price is at a critical psychological and technical level.
- XAUUSD – Gold neutral as market reaction to Iranian deal withdrawal did not accelerate activity. Gold traded within a range between 1317 and 1306 yesterday while investors eye the 1300 support. With Trump pulling out of the Iranian Nuclear deal one would have expected increased activity, however, investors traded moderately as a notice of 90 and 180 days is needed for sanctions to be imposed, giving some room for negotiations.
- US Indexes – DJ closed unchanged, S&P 500 closed 0.03% lower
- European Indexes – UK 100 appreciated by 0.37%, DE 30 fell by a marginal 0.04%
- Asian Indexes – ASX 200 tilted 0.34% higher, Nikkei 225 fell by 0.44%, Hang Seng trades 0.20% higher
- US Equities – Twitter appreciated by 1.66%, Amazon fell by 0.48%
Original Source: FXPrimus News
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