Today’s Important Indicators

A highly volatile session for Aussie, Swiss Franc, Sterling and the US dollar.

Australia will publish important jobs data while Switzerland’s SNB will release its quarterly interest rate decision and conduct the SNB statement on monetary policy.

Later on today, UK releases the retail sales inflationary data along with its latest monetary policy summary and official bank rate decision.

Investors may seek for opportunities as the US is expected to release the number of unemployment claims.

Today’s Forecast for Important Trading Indicators

Market Movers

• Dollar falls on CPI and retail sales, recovers losses on Fed’s decision to increase interest rates to 1.25%. The greenback sunk on Wednesday’s session against basket of pairs ahead of FOMC amid low inflation and disappointing retail sales. Low inflation added pressure on Yellen, however the Fed raised rates as highly anticipated, taking dollar on a recovery mode; dollar recovered over 50% against yen.

• USDCAD plummeted to a fresh 3-month low ahead of FOMC, weighed down by disappointing U.S. data and Poloz’s bullish comments. USDCAD touched the 1.31639 low, lowest since February, backed on 0.1% miss of core inflation expected raise. Loonie gained momentum supported by BoC Gov comments on interest rates, but lost it on Yelen’s comments on balance sheet cuts and rate decision. The pair broke above the 50 EMA, while investors focus on U.S. unemployment claims. Crude inventories seem to have no significant impact.
• Sterling cut loose early gains on poor wage data and delayed coalition deal while U.S. data scaled in. GBPUSD moved lower on 3-year record low wage growth, rebounded on deficient U.S. inflation and retail sales, and finished-off the session unchanged around 1.27500 owed to U.S. interest rate hike. Cable under pressure ahead on BoE bank rates and retail sales today, while investors remain worrisome on political limbo.
• Early-session weak Dollar turns into big winner against Franc and trades 0.30% higher after all U.S. data put on scale. The dollar retraced hard on counterparty CHF after decision for another rate hike was announced. The greenback pierced above the previous resistance of 0.97261, while investors prepare for SNB’s Libor rate announcement due today.
• Aussie-dollar moves higher ahead of interest rate decision amid China’s bullish industrial data, turning negative on dollar strength. AUDUSD traded 0.72% higher after Chinese industrial production rose, found resistance at 0.76200 while in the reverse move on Fed’s decision, it bounced off the 50 EMA and closed above 0.75800 level. This morning Aussie gained on positive job data.
• Oil dives 3.80% for a 3rd consecutive session, this time on crude supplies and concern over worldwide supply surplus. Crude oil fell sharply as oil inventory decline 2.8M on a 2.7M expectation. The black gold extended previous days’ losses and closed below the $45 level.
• XAUUSD notches higher on depressed data, follows the safe-haven pattern on investors’ risk-off trade dwindle. Gold jumped higher in the earlier session ahead of busy Wednesday, slumped on Fed raising rates as investors gain confidence on dollar, which maintains outlook of three rate hikes during 2017.

• US indexes closed lower, with Dow exemption reaching a fresh all-time record high at 21390.55
• In Europe, Dax climbed 0.32% whereas the UK 100 declined 0.35%.
• In Asia indexes were mixed, ASX200 marked another session 1.04% higher along with a 0.10& of Hang Seng, while Nikkei declined 0.08%.

FXPRIMUS Official Website