FXPrimus has summarized the important market indicators of the day.

Today’s Important Indicators

The session started strongly with a poor release of the Australian CPI data figures and is expected to be volatile also at 08:00, when the German Ifo survey is due.

At 08:30, UK is to release its Q3 economic growth figures, while at 12:30, US is going to publish its Core Durable Goods orders data.

Volatility is expected to be very high also around the announcement of BoC’s interest rate at 14:00, and during the press conference at 15:15.

At 14:00, US Home Sales are also expected but overshadowed by BoC.

EIA is to produce its latest inventory report and hence volatility on the commodity could be assumed around 14:30 too.

Near session end New Zealand is scheduled to publish its latest Trade Balance data.

Today’s Forecast for Important Trading Indicators

Market Movers

• AUD/USD – Aussie slumps to a 14-Month low on worse than expected inflation data. The Australian Dollar plummeted against the US counterpart this morning as the Australian Bureau of Statistics announced a 0.6% CPI, compared to the 0.8% expected. Aussie fell 40 pips within the first 30 minutes and continued to a fresh 14-Month low of 0.7715 as the Trimmed CPI raise was also lower than the consensus. Price is currently below the 0.7750 strong support while investors eye the RBA’s decision in November.

• GBP/USD – The British Pound breaks above key $1.32 after positive developments around Brexit. Sterling appreciated from a daily low of 1.3155 to a daily high of 1.3212 against Dollar owed to BoE’s Cunliffe remarks that Britain is going to maintain the ‘status quo’ as the financial centre of Europe as well as May’s remarks around progress over Brexit talks. Price was rejected at the 1.3226 resistance level, and moves towards the 32 below the 200 1H-MA.

• GBP/USD – The British Pound breaks below the key support of 1.3150 ahead of Q3 GDP. Sterling declined against Dollar some 115 pips after the price was rejected at the recent 1.3226 resistance, reaching a daily low of 1.3112. The move was owed to an increased pressure from the EU towards the UK amid Brexit uncertainty and the post-Brexit relationship.
• EUR/USD – Euro edges higher to a daily high of 1.1792 versus Dollar supported by European data. Euro tilted to a fresh 4-Day high after bouncing off a the 1.1742 support over a series of European PMI figures. Price retraced fully within an hour as the Catalonian independence crisis remains unsolved. Furthermore, pressure was added on EUR/USD, which currently trades near 1.1760 ahead of ECB, as Fed Chair speculation keeps weighing in.
• USOIL – Oil tilts higher on huge gasoline inventories draw, hits a 9-Day high at $52.60pb. Crude Oil appreciated to a fresh high of $52.60pb yesterday as API reported a massive draw in gasoline inventories of 5.753M barrels, compared to 2.3M expected. Despite API reported a marginal build in Oil stocks of 519K barrels compared to 425K barrels, Oil price expanded as the US-Iranian standoff, where possible disruptions in Oil supplies are expected, weighed in. Investor eyes on EIA’s report.

• XAU/USD – Gold inches lower amid Fed Chair replacement speculations as Trump polled Republicans. Spot Gold remained under pressure on Tuesday’s session as news reported that Republicans are leaning towards Sandford University Economist John Taylor as the next Fed Chair. Speculations were published after President Trump asked Republicans if they would prefer Taylor or Fed Gov Powell as Yellen’s replacement. Gold fell and remains under pressure around $1273 per ounce.
• In U.S Indexes both S&P500 and DJ rose 0.16% and 0.72% respectively.
• In Europe UK 100 closed slightly higher while DE30 tilted a marginal 0.09% up.
• In Asia ASX 200 appreciated 0.17%, Hang Seng jumped 0.34% higher and Nikkei fell by 0.45%.
• In stocks BoA surged 1.91% while Twitter fell for another session by 0.69%.