May 18, 2017

FXPRIMUS, ECB's Draghi Speaks today evening! Here are today's market indicators!

Check out the Indicators and Events of the day!

Today’s Important Indicators

A busy calendar for most majors this Thursday with dollar being in the spot light with Unemployment Claims as concerns raise over a 5th consecutive day of decline.

The Aussie and Cable also look to release critical economic data on Unemployment Rate and Retail Sales respectively, both of which remain stuck below weekly highs.

Traders to decipher President Draghi’s clues on interest rates later in the evening.

Today’s Forecast for Important Trading Indicators

Time in GMT  Country  Indicator  Expected  Previous
02:30 am AU Employment Change 4.5k 60.9k
09:30 am UK Retail Sales m/m 1.2% -1.8%
01:30 pm US Unemployment Claims 240k 236k
06:00 pm EU ECB’s Draghi Speks

Market Movers

  • USDJPY to session lows of 110.829 rallying of risk aversion owed to US turmoil and Kuroda comments. Yen bulls gain more momentum partially due to reduction in yield differentials. Yen biggest G10 winner.
  • Gold on USDJPY upside finds resistance at 1260.00 level. Gold spiked forcefully and broke the 200 EMA level as political uncertainty remains. Golden cross with 50 EMA could increase gains further.
  • USDCHF breaks 6-Month low of 0.98128 after Comey memo shocks the political arena. According to former F.B.I director, Trump asked for a shutdown of federal investigation into Flynn. Republican Justin Amash suggested impeachment if allegations stand true.
  • EURUSD above last May ‘16 level 1.11270 on continued Trump crisis, positive political development in EU. EURUSD continued seeing gains on the back of US uncertainty and continuous investigation into shared intelligence; Congress pursues Russia evidence.
  • Positive UK employment and USD sell-off help GBPUSD retrace gains. GBPUSD traded better yesterday with short-term bulls reaching 1.29900, remains below 1.30 psychological level.
  • The Australian Dollar has not been a driving force lately but gained over jobs surprise. Aussie spiked after positive data release showing reduced unemployment rate and increased employment change; finds resistance at 0.74646.
  • Asian Indices traded lower on Wednesday’s session.

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