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FXPrimus has summarized the important market indicators of the day.

Today’s Important Indicators

DOLLAR lost ground in the Monday session as global risk sentiment improved, seeing GOLD moving little higher while Equities rebounded.

EURO capped gains just below $1.23 while POUND ended the session unchanged ahead of the CPI.

OIL closed mixed following a half-hearted attempt to recover despite a weaker USD. Markets will focus on UK CPI.

Today’s Forecast for Important Trading Indicators

Market Movers

  • EURUSD – EURO recovers some losses during the light trading session, $1.23 holds firm. Euro-Dollar gained 40 pips in the Monday session as a result of a weaker DOLLAR. Price broke above the recent resistance following a double bottom at the 1.2210 level last week and a bearish rejection at the 78.60% Fibo. The pair is currently trading higher while no major economic events are scheduled in for the day.
EURUSD 1-HOUR CHART
  • GBPUSD – POUND posts marginal gains in illiquid trade, host of inflation indicators to set the tone. CABLE closed the session a little higher following a somewhat weak US counterpart weekly start while no economic indicators added even a marginal intraday momentum. The pair remains below the $1.40 hurdle as a host of inflation indicators is expected to add some directional bias; 09:30 GMT.
  • USDJPY – DOLLAR falls against YEN as risk appetite shifts once again on raising Yields. Dollar-Yen declined 20 pips yesterday closing the session on a negative note. Demand for safe-havens increased after yields moved higher while equities started recovering. 108 becomes relevant again ahead of tomorrow’s US Inflation release.
USDJPY 1-HOUR CHART
  • USOIL – OIL attempts to recover losses but retracement short-lived as US oversupply concerns weigh in. WTI pierced Friday’s top in the Monday session following an equity correlated bounce and a weaker USD, however, the price was rejected at the Friday’s high as US supply-side concerns weighed in. OIL closed the trading day unchanged and formed a strong bullish reversal candle. API in focus.
  • XAUUSD – GOLD becomes $8.5 more expensive as demand increases ahead of Chinese New Year. Spot GOLD ended the session higher following three sessions of indecision as investors appetite shifter once again due to a weaker DOLLAR, an increase in physical demand and the equities market remaining concerns. Price should remain subsided ahead of the US CPI and Retail Sales on Wednesday.
  • US Indexes – DJ surged 1.70% higher, S&P 500 by +1.39%.
  • European Indexes – UK 100 appreciated by 1.19%, DE 30 by +1.45%.
  • Asian Indexes – ASX 200 rose by 0.63%, Nikkei 225 fell by 0.65%, Hang Seng trades 1.52% higher.
  • US Equities – Apple soared 4.03%, Twitter plunged by 1.78%.
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