FXPrimus’s has summarized the important market indicators of the day.

Today’s Important Indicators

Euro surged strongly to a 1-Month high against Dollar following an array of data from Europe and the US while Yen extended its gains versus Dollar on safe-haven flows.

Sterling rose ahead of UK data, yet fell despite the positive results on profits taking.

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

Today’s Forecast for Important Trading Indicators

Market Movers

• EURUSD – Euro hits 1-Month high on the back of European data while US Tax Reform doubts play in. Euro hit a fresh high near $1.1860 on positive French inflation numbers while doubts around a US Tax deal weighed in. The bullish momentum softened as investors started taking profits and reversed once the US Retail Sales data printed better than expected figures, taking the pair to a negative territory.

• GBPUSD – Pound consolidates near $1.32 as data from UK and US shift sentiment. GBPUSD rose following a series on data from the UK, easing off from 6-day high on profit taking. The pair switched direction after Dollar gained some grip once investors digested the US Retail Sales and Inflation data. The pair currently trades below the descending trendline started on October 13th, below $1.32, while market participants look forward to the Retail Sales print and Carney’s speech.
• USDJPY – Dollar declines for a consecutive session against Yen despite positive US Retails Sales. The US Dollar closed below $113 as T-Bonds continued falling on doubts surrounding the US Tax Reform deal. While inflation remained firm in October and Retail Sales saw an upbeat recovery from hurricanes, demand for the safe-haven Yen won the battle versus risk-on Dollar. Dollar currently pushes higher, trying to break back above $113.

• USOIL – Oil closes marginally higher despite inventory build-up as OPEC cut extension more likely. Crude Oil rose nearly seventy cents following reports that OPEC is likely to extend ongoing production cut in December. The report countered EIA’s disappointing release on Crude Inventories. EIA reported a build-up of 1.9M, against -2.1M expected. WTI currently trades near $55.55 per barrel while uncertainty around Venezuelan debt eases off with Russia stepping in.
• XAUUSD – Gold mixed yet steady as Dollar firms following a disappointing start. Spot Gold reached the 100.00% FE at 1290 per ounce and was rejected by investors taking profits as well as an array of positive data coming from the US. Dollar recovered all losses against Gold breaking back below the $1282 support. The precious metal is currently trading above the 23.60% FE of 1276.00.
• US Indexes – DJ and S&P 500 fell, 0.59% and 0.55% respectively.
• European Indexes – UK 100 declined 0.56%, DE 30 -0.44%.
• Asian Indexes – ASX 200 rose 0.19%, Hang Seng trades 0.77 higher%.
• US Equities – Apple depreciated 1.32%, Exxon Mobil -1.25%.