FX Markets Remain within Limited Consolidation Areas.
This article is originally referred from FXPrimus News.
FXPrimus has summarized the important market indicators of the day.
Today’s Important Indicators
Today the main news will be coming from Canada mainly inflation and retails sales data.
Consumer price index is likely to decrease from last month, while retail sales also are likely to drop to 0.4%.
Today’s Forecast for Important Trading Indicators
- BTCUSD has traded within consolidation mode, but ready to take another jump higher.
- EURUSD – Euro trades in a tight range against the greenback. Euro has been trading in a quite tight range against the US Dollar forming in what is called a rangebound trading. At some point, the pair might experience a breakout of this range in a direction that will be closely related to a shift in EU policy.
- GBPUSD – Pound dropped against the USD by around 150 pips. The cable fell around 150 pips on Carney’s comments where he casts doubt on May interest rate hike. Pound dropped against most of the other currencies. The Brexit uncertainty is still casting doubt on everything including interest rates.
- USDJPY – USDJPY bumping higher, Yen walking back in early Asia. The Yen is falling back across the board as traders scoop up Greenbacks today. Markets reversed their flows on Thursday and began selling off riskier assets in favor of the USD, and now the Yen is also stooping lower against the US Dollar.
- USOIL – Oil prices traded lower on Thursday as a rising dollar and climbing interest rates knocked off the commodity from its highest levels in more than three years.
- XAUUSD – Gold fell at the end of NY session touching 1340 and continued in a steady trading.
- US Indexes – Dow fell 0.34%, S&P fell 0.57%.
- European Indexes – FTSE100 higher 0.16%, DAX fell 0.19%.
- Asian Indexes – Asia Dow fell 0.91%, Nikkei fell 0.13%.
Original Source: FXPrimus News