Trade Threats Ramp Up, Investors Frustrated.
This article is originally referred from FXPrimus News.
FXPrimus has summarized the important market indicators of the day.
Today’s Important Indicators
Global markets kicked off the week on a nervous tone as the US President threatened to impose new tariffs on China, against the background of other tariffs on previously exempt countries announced earlier.
Euro and Pound rallied against the Dollar, yet commodities declined. Today, and on the political arena, MPC and FOMC members speak.
On the economic front, CB reports its monthly Consumer Confidence.
Today’s Forecast for Important Trading Indicators
- BTC/USD – Bitcoin mixed, price steady above $6K but the risk for further downside remains. Bitcoin price ended Monday’s session on the sidelines as trading activity remained at subdued levels, giving investors the chance to take a breath just above $6k. Since the downward channel break, volumes have decreased with investors becoming more cautious.
- EUR/USD – Euro reacts positively on new tariff threats, ends session 0.5 cents more expensive. Euro-Dollar moved higher for a third consecutive session,following the start of a rather nervous week on newly-announced US tariffs on imports from China. Price closed the day at $1.17, getting some support from the German Ifo, which came out as a relatively good report considering the upward revision.
- GBP/USD – Pound marginally higher as global risk-off continues being negative for the US Dollar. Cable reached a high of $1.3289 yesterday following a recovery from the $1.3220 area after a cautious decline in the US Dollar. With the appreciation of EUR/USD, Sterling moved slightly higher and ended the session 29 pips higher. Today markets expect Haskel and McCafferty to speak.
- USD/JPY – Dollar weaker against Yen but risk-off narrative remains modest, pair mixed. The Monday session closed with Dollar-Yen unchanged, albeit with a negative tone as Yen net longs never increased despite a risk-off sentiment that should have led market participants to safe-havens. With investors eyeing mainly the Euro, USD/JPY remained steady at 109.73. Price action expected at 14:00 GMT.
- USOIL – Oil edges lower as OPEC agrees to increase daily output by 1 million barrels. Oil lost some 50 cents per barrel on Monday following a boost in Oil output. OPEC moved to boost Oil output after major supply shortage concerns. The proposal moved oil price lower to $67.84 per barrel.
- XAU/USD – Gold $5 cheaper to $1.265 as short-term sell-off outside channel accelerates. Gold traded lower yesterday as demand for safe-havens did not increase despite concerns surrounding newly-announced US tariffs. The precious metal saw the long moving average decisively crossing the short, a move that is likely to lead the price to new monthly lows.
- US Indexes – DJ plummets by 1.33%, S&P follows with 1.37% fall.
- European Indexes – DE 30 appreciates by 0.18%, DE 30 sees 0.46% rise.
- Asian Indexes – ASX 200 depreciates by 0.26%, Hang Seng loses 0.24%, Nikkei unchanged.
- US Equities – Twitter plunged by 3.73%, Amazon by 2.02%.
Original Source: FXPrimus News