FXPrimus has summarized the important market indicators of the day.

Today’s Important Indicators

Merkel failed to form a government adding political risk and uncertainty as Europe’s strongest economy.

Dollar saw gains, reflecting Euro’s weakness and slow demand for Yen while Pound raised on increased optimism over the Brexit divorce bill.

Bitcoin hit a fresh all-time high at $8272 ahead of CME announcement of Futures, corrects lower on Bitcoin Gold coin distribution to BTC holders.

Today, investors may find a number of opportunities based on news coming mainly from the UK and US.

Today’s Forecast for Important Trading Indicators

Market Movers

  • EURUSD – Euro sees wild fluctuations, fails to recover from Merkel and dovish Draghi. Euro declined nearly 65 pips against Dollar amid Merkel’s failure to form a government. Despite Euro bulls recovered initial Germany losses, the pair fell to the recent daily lows on Draghi’s bearish remarks about inflation and wage growth. Euro currently trades near 1.1750.
  • GBPUSD – Sterling tilts higher on hopes that Brexit divorce bill could increase. Pound moved above the 1.32 key level for another session amid hopes that the UK cabinet will support a 40 bln Euros divorce bill, from the current 20 bln the UK is offering. The pair edged higher against Dollar, kicking-off the week on a positive footing. Market players focus on the Inflation Report Hearings at 10:00 GMT.
  • USDJPY – Dollar gains versus Yen despite positive Japanese data, slow demand for Euro weighs in. Dollar surged on Monday over Euro’s weakness despite Japanese Trade Surplus climbed to JPY 0.32 trl, as well as due to a positive US CB Leading Index figure. Today US is releasing its latest Home Sales data while USDJPY corrects at 112.500 on profit taking.
  • USOIL – Oil closes lower as optimism for an extension cut fades away ahead of OPEC meeting. Crude Oil lost nearly 1.0% yesterday on increased uncertainty around an OPEC extension in oil production cut. Meanwhile, geopolitical tensions in Middle East along with the surge in Gas prices pushed the Oil lower. Crude started a healthy, so far, recovery since last night and currently trades at $56.50 pb while investors eye API.
  • XAUUSD – Gold plummets during ‘Thanksgiving’ on light volume despite NK tensions. Spot Gold fell to $1275 po yet remains bullish as the support signalled a halt to the bearish momentum. The support coincides with the ascending trendline started on October 6th, a level that rejected bears and since bulls took over, for the time being.
  • US Indexes – DJ and S&P 500 tilted by +0.31% and +0.13% respectively.
  • European Indexes – UK 100 appreciated 0.12%, DE 30 jumped 0.50% higher.
  • Asian Indexes – ASX 200 rose by 0.27% and Hang Seng trades 1.35% higher.
  • US Equities – Tesla plunged 2.00%, Twitter upsurged 1.78%.


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