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April 19, 2018

FXPRIMUS, Daily Report: UK Retail Sales, US Unemployment Claims and more events awaiting

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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

Dollar tilted marginally higher yesterday on signs of a stronger US economy and on de-escalation of risk as geopolitics lose traction, however, uncertainty is still on the table.

Euro, and Gold help firm while Oil hit a multiyear high on successive stocks report.

Elsewhere, the British Pound fell the following inflation.

Market participants will focus on UK Retail Sales, the US Unemployment Claims and an array of speeches from bank members.

Today’s Forecast for Important Trading Indicators

  • BTCUSD – Bitcoin price holds firm around $8.130, break above could add on to longs. The price of Bitcoin moved a little higher yesterday but bullish momentum was subdued, albeit secured. As long as price remains keep recording fresh highs investors are likely to “hold’ on to their positions while the market capitalization scales up.
BTCUSD 30-MINUTES CHART

MARKET MOVERS

  • EURUSD – Euro retraces early gains from a daily high of $1.2395 as EU Inflation disappoints. Euro ended trading sideways in the Wednesday session against Dollar for a second consecutive trading day as inflation data from Europe came out 0.1 basis points worse than anticipated. The 55 pips range could be maintained as no major news are due from either EU or US.
EURUSD DAILY CHART
  • GBPUSD – Pound ends session 90 pips lower as inflation figures crash positive momentum. Cable lost its bullish momentum from recent pre-Brexit high following a poor inflation reading. The pair fell sharply as UK delivered weak wages report earlier in the week. It is certain that today’s Retail Sales will be the catalyst while Pound-Dollar trades below $1.42.
GBPUSD 4-HOUR CHART
  • USDJPY – Dollar-Yen posts marginal gains yet uncertainty over geo a key component for risk appetite. Dollar-Yen saw a little upside move yesterday as no news on the recent US-China trade war or Russian retaliation of US strike to Syria was in play. The pair was rangebound in a 40 pips market while no US eco indicators were due. Market waits for the Jobless Claim but keeps an eye on risk events too.
USDJPY 1-HOUR CHART
  • USOIL – Oil breaks recent multiyear high as API boost confirmed also by EIA, price poised for higher levels. WTI ended Wednesday’s session at $68.70 per barrel, a high not seen since December 2014, following a weekly positive report from EIA. With the recent breakout above $65.45/b it is a matter of time for traders to decide on a momentum shift or build up.
OIL DAILY CHART
  • XAUUSD – Gold steady for another session but candle ends outside triangle pattern. Gold remained unchanged on Wednesday as the global geopolitics arena remained cooled-off for another day and market risk was subdued. With price breaking outside the triangle pattern chances of an upside move increase. Investors eye the US Jobless report and FOMC members speeches.
XAUUSD 4-HOUR CHART
  • US Indexes – DJ closed 0.16% lower, S&P 500 rose by 0.08%.
  • European Indexes – UK 100 trades 0.08% higher, DE 30 0.24% lower.
  • Asian Indexes – ASX 200 appreciated by 0.34%, Nikkei 225 gained 0.15%, Hang Seng trades 1.17% higher.
  • US Equities – Tesla soared by 1.97%, Facebook plummeted by 1.36 %.

Original Source: FXPrimus News

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