FXPrimus has summarized the market indicators of the day.

“N. Korea-Us Tensions Take Gold Higher”.

Market participants’ main focus is on North Korea and US.

Today’s Important Indicators

The Office of National Statistics is expected to release UK’s monthly Manufacturing Production while in US, BLS will release its PPI indicator figure.

The Department of Labour will also release the Unemployment Claims where a number, 2K larger than the previous week, is forecasted by analysts.

The session will close with RBA’s Lowe speech before the House of Representatives Standing Committee on Economics.

Today’s Forecast for Important Trading Indicators

Market Movers

• NZDUSD – Kiwi weakens after official cash rate remains, as widely expected, unchanged. Dollar raised against the New Zealand counterpart after the release of RBNZ rate decision and conference. The pair continued falling overnight as inflation expectations are well anchored at 2%. NZD/USD currently trades below 0.728 violating the 50DMA and piercing the 38.2% Fibonacci retracement, a break of which could take the pair to fresh lows. A bounce on the trendline, or 50% Fibo, could be the beginning of a head and shoulders pattern.

• USDCHF – Swiss Franc rallied 1% against Dollar on U.S – N.K increased geopolitical concerns. Swissy climbed higher on Wednesday’s session after the word-war between Trump and Pyongyang escalated over U.S response “fire and fury” over a missile attack on Guam. The pair bounced to fresh 2-Week low of 0.961, where the 31.8% Fibonacci retracement is, and is currently heading towards 0.966. Eyes on geo and U.S inflation data today at 12:30 GMT.
• USDCAD – Dollar-Cad extends gains to 3-Week high, ignoring data on economic events in CA and US. Dollar raised 0.10% yesterday, despite strong Canadian data, weak U.S data and marginally higher oil prices, all of which failed to drive the price of the pair down. USD/CAD reached a high of 1.27212 after Tuesday’s JOLTS report increased investor confidence on to the US Dollar and the US economy, taking into consideration last week’s positive NFP.

• USOIL – Oil moves higher after upbeat Crude Inventories data, collecting the losses of the last few days. Crude Oil settled higher and currently trades close at $49.71 per barrel, right at the 200 DMA, as EIA reported a better than expected change in the number of barrels for the past week. The price moved only a few cents higher, as gains were mainly capped by an increase in gasoline stocks.
• XAU/USD – Gold spikes to 2-Month highs after “fire and fury” increases buying panic. Gold moved closer to $1280 on the back of safe haven demand after N. Korea said that it plans to attack Guam. Tensions escalated on Trump’s reply while US Dollar has seen an upsurge over the past few days, taking investor risk-off appetite to new highs. The pair could potentially hit the 1296 level reached on the 6th of June as there’s no obstacles confirming that this couldn’t be the case.
• US indexes closed lower, with DJ -0.17% and S&P 500 a marginal -0.04%.
• In Europe UK 100 depreciated 0.59%, whereas DE 30 saw a decline of 1.12%.
• In Asia, Hang Seng plummeted 1.11%, Nikkei moved 0.04% lower and ASX 200 weakened 0.22%.
• In stocks, Apple raised 0.61% while Amazon fell 0.79%.