Euro Higher On US Data, FOMC in Focus.
This article is originally referred from FXPrimus News.
FXPrimus has summarized the important market indicators of the day!
Today’s Important Indicators
The most volatile session today starts early with RBA’s Ellis speech at the Australian Business Economists Lunchtime Briefing and the German PPI at 03:00 and 06:00 GMT, respectively.
UK Retail Sales will follow up at 08:30 GMT and U.S. Existing Home Sales at 14:00.
The session will continue with EIA’s Crude Inventories for the week ending 15 at 14:30 GMT and will be followed by FOMC’s Rate decision at 18:00 GMT.
The session will close with NZ GDP.
Today’s Forecast for Important Trading Indicators
- EURUSD – Euro raises against Dollar on positive Eurozone, negative US data, breaks above $1.20. Euro settled higher against the USD following an array of positive releases for the Eurozone while U.S. Housing Stats disappointed despite they were better than expected as the data accelerated less than expected. Investors look forward to FOMC today and and Draghi’s speech on Thursday. Euro-Dollar currently trades above $1.20 while the FE 61.80% acts as a support, for now.
- GBPUSD – Sterling remains firm above $1.35 versus the Dollar despite Carney’s remarks last Monday. The British Pound consolidated above the 35 level as Dollar moved lower ahead of the FOMC meeting amid disappointing Housing Stats. GBPUSD posted marginal gains despite a lack of data from Britain while investors look forward to the Retail Sales as policy tightening is expected in the forthcoming months.
- USDJPY – Dollar-Yen moves lower ahead of FOMC Statement, Balance Sheet matters most. Dollar depreciated versus Yen while investors and traders expect the FOMC statement today as data from the U.S. weakened Dollar against the majority of currencies. The pair nears the 112.00 level as currently trades just below, at 111.40.
- USOIL – Crude falls ahead of EIA report, recovers losses on possible supply cut. Crude Oil fell below the $50 level yesterday as fears over an increase in inventories drove market sentiment. The black gold remained resilient above the $50 mark after Iraq’s minister said producers consider deepening the supply cut. WTI trades at $20.28 while investors eye the EIA at 14:30 today.
- XAUUSD – Gold choppy ahead of FOMC, Trump’s speech in New York. Gold found a support at $1305.00 per ounce while price the price fluctuated amid Trump’s fiery speech on North Korea, Iran and Venezuela. Gold trades near $1315 while investors look forward to today’s announcement, and particularly the Balance Sheet figures.
- In US Indexes, S&P 500 closed 0.11% higher while DJ appreciated 0.18%.
- In Europe, UK 100 raised 0.30% while DE 30 remained unchanged.
- In Asia, ASX 200 fell only 0.10%, Nikkei remained unchanged and Hang Seng increased 0.21%.
- In stocks, Tesla slumped 2.57% while Facebook appreciated 1.48%.
Original Source: FXPrimus News