Dollar Higher on US Data, Losses all Gains over N.K. Crisis.
This article is originally referred from FXPrimus News.
Last day of trading of the week. FXPrimus has provided the summary of important indicators today!
Today’s Important Indicators
Today the session will kick-off with MPC Vlieghe speech at the Society of Business Economists’ Annual Conference, in London, at 08:50 GMT.
At 12:30 US will publish its latest Core Retail Sales report while at the same time the NY Manufacturing Index will be out.
The Federal Reserve will release its latest Capacity Utilisation Rate and Industrial Production at 13:15 GMT and this will be followed by University of Michigan Consumer Sentiment at 14:00.
Today’s Forecast for Important Trading Indicators
- GBPUSD – Sterling hits a fresh 1-Year high above $1.34 as BoE members signal rate hike. The British Pound upsurged over 200 pips since yesterday’s BoE rate decision despite figures remained unchanged as MPC members talked about removing stimulus in the upcoming months. GBPUSD broke to a new high above 1.3400 back within the ascending channel, and could reach the 70s-80s where the 100% Fibonacci Extension is. Saying this, the $1.35 level may be seen earlier than anticipated; end of 2017.
- USDJPY – Dollar hit a 7-Week high against Yen above 111.00 on US data, retreats near 109.50 on N.K. Dollar gained for a 6th consecutive session yesterday against Yen on better than expected CPI and Jobless Claims figures while Fed debates on another hike with year. USDJPY fell hours after the release on an announcement over another missile test launch over Japan, which eventually eventuated this morning as the South Korean military reported. The pair struggles to hold gains above the bearish channel, however for the time being it remains resilient.
- EURUSD – Euro declines on Dollar’s strength, finds its footing above $1.19 in NY session. EURUSD fluctuated as earlier USD gains were amid greenback’s weakness after N.K. stated that they will reduce U.S. to “ashes and darkness” with the use of nuclear weapons. The traded as low as $1.1840 during the release of U.S. data and currently is on the plus side as N.K. launched another missile over Japan. Euro added some of it gains in the N.Y session as ECB’s Weidmann said that deflation threat is gone.
- USOIL – Oil breaks and remains above $50 as bullish sentiment increases most in 5-Weeks. Crude Oil finally broke above the psychological $50 per barrel price level following an upsurge in gas inventories, the highest in 3-Months. Oil traded on the positive side for a 4th consecutive session (inclusive) and reached a high not seen since May 26 on the back of increased bullish sentiment.
- XAUUSD – Gold depreciates on strong Dollar reaching a 2-Week low, recovers on safe-haven demand. US data pushed the price of Gold lower yesterday, around $1315.00, just hours before N.K. directly threatened burning down U.S. with nuclear weapons. Bullish sentiment remained in play as threats over a missile test launch eventuated this morning, where N.K. launched another missile over Japan. Gold trades just below $1330.00 while today further price fluctuations could be expected.
- In US Indexes, S&P 500 closed 0.11% lower while DJ appreciated 0.20%.
- In Europe, UK 100 plummeted 1.14% while DE 30 declined 0.10%.
- In Asia, ASX 200 fell 0.72%, Nikkei moved 0.29% higher and Hang Seng marginally lower at -0.09%.
- In stocks, Amazon climbed 1.73% and Apple fell for 0.75%.
Original Source: FXPrimus News