FXPrimus has summarized the important market indicators of the day.

Today’s Important Indicators

With Yellen leaving interest rates unchanged, Dollar ended higher against the majority of currencies as Fed’s forward guidance remained consistent to previous announcements. Thus, the probability of a hike by year end increased to 92.3%.

Investors shift their focus to BoE and today’s Monetary Policy announcement which is due by midday, 12:00 GMT. Markets are pricing in a hike with 90.4% probability, however, investors remain cautious around the slow pace in inflation growth but yet hopeful that in case BoE won’t raise now, the rise is likely to be seen in December (91% probability).

On Cryptocurrencies, CME announced that they plan to introduce Bitcoin Futures, which sent the King of Cryptocurrencies to fresh all-time highs of $6909 per coin.

Today’s Forecast for Important Trading Indicators

Market Movers

• BTCUSD – Bitcoin surges to record highs on derivatives marketplace operator news. The Chicago Mercantile Exchange (CME) announced yesterday that it will be opening the doors to institutional investors with Bitcoin Futures, taking Bitcoin to record highs. BTCUSD is nearing the $7K psychological level, a break of which could take the pair to ~$7300 per coin.
• GBPUSD –Sterling falls but still bullish above $1.32 as investors take profit ahead of interest rate decision. The British Pound declined near 1.3240 yesterday as investors took profits ahead of BoE’s rate announcement. Price was rejected at the top of the descending channel started on October 13. During today’s Asian session Pound recovered some of its losses in anticipation of a hike.

• USDJPY – Dollar tilts higher but still away from 114.50 as Fed keeps rates unchanged. Dollar gained against Yen for another session yesterday closing 550 points higher as Fed, to no-one’s surprise, kept rates unchanged but maintained outlook consistent, hence, investors are likely to see the hike in December. Today, Dollar trades marginally lower as uncertainty around the next Fed Chair weigh in.

• USOIL – Oil depreciates from recent $55pb price on EIA inventories report, Gasoline demand. Crude Oil saw a pull-back to the $54 mark as EIA reported a draw less than what economists had anticipated. Despite a draw, Oil was pressured by the increased demand in Gasoline, as the latter reached a 15-Month high. Currently, price is mixed and Oil trades in a very tight range of 15 cents.
• XAUUSD – Gold holds gains on FOMC statement, ends higher as Chinese Gold bar demand increases. Spot Gold closed yesterday’s session near $1274 per ounce, little higher than the $1270 open, on Fed’s decision to keep rates unchanged. Reports that Chinese demand for Gold bars increased by 40% pushed price higher during the Asian session while concerns around Fed Chair nominee remain. An announcement is likely to be made today.
• In US Indexes, S&P 500 closed 0.16% higher and DJ on +0.25%.
• In Europe, UK 100 rose a marginal 0.06% and DE 30 traded 0.15% lower.
• In Asia, ASX 200 closed marginally lower, Nikkei upsurged by 0.53% and Hang Seng lost 0.09%.
• In stocks, Tesla plummeted 3.15% while Facebook saw some gains of 1.44%.