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Today’s Important Indicators

The Australian Bureau of Statistics will release its latest Employment report at 00:30 GMT, followed by Ellis’s speech at 08:20 GMT. UK will publish its monthly Retail Sales report ten minutes later, while in Europe ECB will publish its latest report on Monetary Policy at 11:30 GMT.

At 12:30 GMT U.S will follow up with their Jobless Claims report followed by Kaplan’s speech at the Lubbock Chamber of Commerce at 16:30 GMT.

Today’s Forecast for Important Trading Indicators

Market Movers

• EURUSD – Euro higher against Dollar as US central bank votes to keep rates unchanged. Dollar weakened across the board of pairs yesterday after Fed minutes meeting record showed that some members of the committee were concerned over inflation slowdown and raising interest rates. Downbeat home data also weighed in. Euro-Dollar surged almost 100 pip since and currently finds resistance at the 60 4-HMA. Investors eye today’s ECB monetary meeting and U.S economic reports for their next move.

• GBPUSD – Pound Unemployment Rate fell to lowest level since ’75, wages raised. The British Pound raised almost 50 pips on the back of better than expected wages and a lower unexpected rate that hit a record low. Following the report, the pair traded back down to recent low of 1.2840 however this was short-lived as bear pressure subsided. Currently, Pound-Dollar seems to be retesting the recent high of 1.2893 for what could be seen as continuation.
• AUDUSD – Aussie moves higher on Fed minutes debate, extends gains on upbeat employment data. The Australian Dollar gained almost 130 pips since yesterday amid weak US Dollar and AU employment growth. The pair broke above the 0.79 resistance and the 60 4-HMA and currently trades near 0.795. Investors look to Ellis speech today at 08:20 GMT to decide whether they should remain bullish or bearish.

• USOIL – Oil falls for another session after EIA report shows a decrease of 8.9M barrels. Crude Oil declined to a fresh low of $47 after U.S crude oil production hit a 2-Year high while inventories declined below expectations. Crude is currently trading below the 60 HMA while concerns whether demand will be enough to tackle inventories or not, rise.
• XAU/USD – Gold retreats from earlier losses on new path over rate hike. Gold turned positive again as Fed minutes disappointed and resulted to an increase in risk-off assets. Gold heads toward 1290 levels as Fed’s debate is been taken advantage of by market participants while today’s economic data-heavy session will play in.
• US indexes closed higher with DJ +0.12% and S&P 500+ 0.14%.
• In Europe, UK 100 appreciated 0.67%, whereas DE 30 saw a rise of 0.71%.
• In Asia, Hang Seng declined 0.25%, Nikkei closed 0.14% lower and ASX 200 marginally lower with a decline of 0.06%.
• In stocks, Twitter gained 1.32% higher while Exxon Mobil fell 0.73%.