Today’s Important Indicators

A relatively quiet session with Canada’s monthly and U. S’s advanced GDP as the only exceptions.

The week closes with another US focused economic event, the release of the monthly change in the inflation-adjusted value of all goods and services from Statistics Canada.

Expectations from analysts indicate the economic health in Canada will remain the same, while in the first release of the U.S GDP, they expect an increase of 1.1% compared to last quarter.

Since the Advanced release is the earliest, investors could find opportunities as the impact of the divergence could be big.

Today’s Forecast for Important Trading Indicators

Market Movers

• EUR/USD – Euro falls against Dollar on solid U.S unemployment data after reaching top 3-Year range. Euro extended to fresh highs for a third session during the Asian session however it declined below 1.1680, decreasing the conditions of a breakout that could take the pair to 1.18. Market participants eye today’s GDP.
• AUD/USD – Aussie jumps to 0.806 levels, record high fades as USD off 14-Month lows. Aussie surged during the early session against Dollar counterpart, however better than expected results on economic data took the pair below the 0.80 psychological level. The move was surprisingly large signalling that the key broken levels yesterday could be false.
• GBP/USD – Weak Dollar sends Pound to 10-Month high during the early session, pair retraces 120 pips. Last Wednesday, the pound started climbing to 1.13600 levels on policy meeting and slow inflation, however, the move was short-lived as the pair declined and closed the session around 1.30636.

• USOIL – Oil maintains strong position at $49 finding resistance at the trend line, started in April 12. Crude oil was mixed on Thursday’s session as the price was held from the firm trend line resistance and kept the commodity around the 49 dollars per barrel price.

• XAU/USD – Gold advances 0.85% after reaching a 6-Week high on increased risk-off demand. Gold price hit an early fresh high during Thursday’s London session however, it retraced almost $10 before correcting to around 1260 per ounce. Today’s GDP could determine the next move on XAUUSD.
• US indexes closed with DJ 0.31% higher and S&P 500 0.17% lower.
• In Europe UK 100 fell 0.12%, whereas DE 30 0.76%.
• In Asia Nikkei and ASX 200 increased 0.15%, the Hang Seng gained 0.71%.
• In stocks Twitter slummed 14.23% while Facebook raised 2.78% after Earnings reports.

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