FXPrimus has summarized the important market analysis of the day.

Today’s Important Indicators

The end of week two in the fourth quarter, started with RBA’s Financial Stability review at 00:30 and the Chinese Trade Balance at 02:00.

Volatility is expected to be high around the release of the US CPI and Retail Sales reports at 12:30 as well as during the release of the UoM Inflation Sentiment report at 14:00.

At 14:25 and 15:30, FOMC members Evans and Kaplan will speak about the economy and monetary policy at the Wisconsin Summit of Financial Literacy and at the Chartered Financial Analyst Institute, in Boston.

Today’s Forecast for Important Trading Indicators

Market Movers

• BTCUSD – Bitcoin surges to an all-time high due to the changing economic and regulatory conditions. The King of Cryptocurrencies reached an all-time high of $5850 per coin, as both general and Japan based changes in regulatory conditions, played in. As a result, the trading volume of the top 11 digital assets has reached a market capitalisation of $1 Billion. Bitcoin depreciated a few hours back on Lagarde’s stance against cryptocurrencies, and as of 06:09, trades at $5432 per coin.

• GBPUSD – Sterling dips on Brexit talks against Dollar, retraces fully on 2-Year transition hints. Yesterday, the British Pound plummeted ~120 pips on Barnier’s remarks that no serious discussions had been made in the latest Brexit negotiations. The pair achieved a 100% recovery of its earlier losses on hopes that Brexit transition would last a period of 2 years. GBPUSD currently trades just below the 100% FE, at 1.3282, despite yesterday’s US positive data publications.

• EURUSD – Euro falls against Dollar on Draghi’s concerns over wage progress. Euro moved away from the recent high of $1.1880 after poor European data on the French CPI were released. The Euro continued its downward move after president Draghi said that although the ECB has seen some progress on the labor market, unemployment rates still remain high. Euro-Dollar broke below the ascending trendline that started on October 6 and currently trades just above the 161.80% FE on the hourly chart. Eyes on today’s US inflation and consumer spending data.
• USOIL – Crude Oil inventories decline, tilting Oil prices higher, as EIA reports a 2.8 Million draw. Crude Oil corrected at the 50% FR near $50.50 per barrel, as EIA’s report raised optimism during a time of increased production from returning Mexico Gulf oilfield operations. Oil price moved above the 23.60% FR barrier and currently trades around $51.20 per barrel.
• XAUUSD – Gold remains bullish reaching a 2-Week high, nearing the $1300 barrier. Spot Gold appreciated for another session on a move supported by Wednesday’s FOMC minutes and Fed’s debate on inflation prospects as well as neutral US monetary policy; a more hawkish tone was expected. Gold price stands at $1296.81 per ounce, above the 61.80% FE, and could head to the next FE level around 1304, assuming the 13 level breaks.
• In US Indexes, S&P 500 and DJ fell 0.17% and 0.14% respectively.
• In Europe, UK 100 appreciated by 0.30% while DE30 appreciated a marginal of 0.09%.
• In Asia, ASX 200 jumped 0.35% higher, Hang Seng appreciated by 0.05%, and Nikkei jumped 0.96% higher.
• In stocks, Twitter upsurged by 4.06% while BoA had a 1.47% decline.