Here is what’s happening in the financial markets today.

Today’s Important Indicators

A quiet close to the week, as the only major reports expected are coming from Canada. Other medium impact events are expected to move the markets too.

Canada will release its latest CPI report at 12:30 GMT, while later at 14:00 GMT, U.S will release its monthly Preliminary UoM Consumer Sentiment Survey.

The session will close with another speech from Kaplan 15 minutes later as he’s due to speak at the Dallas County Community.

Today’s Forecast for Important Trading Indicators

Market Movers

• USDJPY – Yen strong against Dollar on upbeat Japanese data, political tensions in U.S. The pair slumped over 120 PIPs since yesterday amid Japan’s upbeat data on exports for the month of July, as well as a disband of two business advisory councils from Trump. Concerns over the administration’s ability to carry out the economic reforms promised raised while the disappointing data from U.S weighed in. Dollar-Yen could reach 109.00 next, where the 100% Fibo extension waits.

• EURUSD – Euro gains against Dollar despite ECB’s concerns as U.S data weighs in. Dollar declined for another session amid Jobless Claims miss and Philly fall. Yesterday earlier in the day Euro had depreciated around 100 PIPs on Eurozone inflation data, whereas ECB’s minutes supported the down-move as policy-makers fear about Euro’s bullishness. The pair touched the 1.1650 support and retraced back above the 23.6% Fibo, currently trading at 1.1735.
• GBPUSD – Pound struggles to break recent high as exporter’s confidence weakens. Pound created a fresh high yesterday on positive Retail Sales reaching to 1.2900. Despite an attempt to break higher, GBP/USD remained soft as the trade confidence came out lower over raising concerns of currency fluctuations. The pair currently trades within the short range, something that could be expected to be maintained on a Friday, or, a break above or below could take the price to fresh highs or lows.
• USOIL – Oil falls to a 3-Week low on strong Dollar, persisting over-production concerns. Crude Oil reached a fresh low of 46.55 as U.S production appreciated to a 2-year high while U.S supplies declined. The black gold retraced on the daily support and price moved marginally higher on today’s early session on Saudi exports, where a 33-Month low was hit. Price still remains below the ascending and descending trend-lines while the recent support will show whether Oil prices will go up or down.

• XAU/USD – Gold extends higher on weak U.S data, increased demand on rate hike wearing away. Gold is looking the 1300 level again as market participants’ expectations for another rate hike subsided after dovish Fed’s minutes were announced last Wednesday. Gold moved higher yesterday as U.S data on Jobless Claims and Philly’s Index disappointed. Bullish bias remains intact while slow inflation worries increase.
• DJ plummeted 1.24% and S&P 500 also slumped 1.54% in U.S Indexes.
• In Europe UK 100 fell 0.61%, DE 30 fell 0.49%.
• In Asia Hang Seng declined 0.49%, Nikkei fell sharply 1.23% lower and ASX 200 depreciated for 0.47%.
• In stocks Tesla plummeted 3.03% and Bank of America followed too with a decline of 2.27%.