FXPrimus has summarized the important indicators of the day.

Today’s Important Indicators

US Treasury Bonds saw a significant intraday decline yesterday following an announcement that US President Trump is likely to adopt a “softer” approach towards Chinese investments.

Euro, Gold and Pound depreciated while Yen, the US Dollar and Oil moved higher.

With the 2-day EU Economic Summit kicking- off today and the expected US GDP release, global markets are most probably going to be somewhat volatile.

Today’s Forecast for Important Trading Indicators

• BTC/USD – Bitcoin maintains $6k barrier but investors still dry on long positioning. Bitcoin traded sideways for a third consecutive session as market participants acknowledge the “uncertainty” narrative prevailing over the markets during the past few weeks. With no “whales” coming in to throw in big money, Bitcoin may be prone to another push below the $5k level.

MARKET MOVERS

• EUR/USD – Trump administration announces softer stance on Chinese investments, Dollar surges. Euro plummeted by 100 pips in the Wednesday session as US 10Y Yields declined following a US administration announcement that Trump’s stance on Chinese investments is going to soften. The pair moved to $1.1550 and is heading towards lows of last July, where the 50% Fibo betides.
• GBP/USD – Pound drifts lower on the $1.31 area, hits 7-month low as Dollar strengthens. Sterling broke below the 50% Fibo as sentiment on global equities improved while eco data were soothing. Expectations have Cable finding support at the golden ratio near $1.30. Today is expected to be a quiet day on the eco side of things, yet the pair is likely to anti-trail the strong Dollar.
• USD/JPY – Dollar hits weekly high versus Yen but upside move cautiously above 110. Dollar-Yen closed Wednesday session mixed but with a bullish bias to its formation despite a strong Dollar, as Yen itself saw somewhat equal gains. The pair has now moved above 110 and it is likely that it will continue higher towards the descending trendline, and may even form a double top at the 110.70. US GDP at 12:30 GMT.
• USOIL – Oil rallies towards 4-Year high at $72.80 following massive inventory draw. Oil surged to $71.64 close yesterday after EIA reported a massive crude oil draw of 9.228 million barrels. Analysts were originally expecting a draw of 5.1 million, so the figure reported has provided commodity traders with confidence and, in return, they pushed prices $1.5 per barrel higher.
• XAU/USD – Risk sentiment continues pushing Gold prices lower, precious metal hits 6-month low. Gold lost another $7 per ounce on Wednesday owed mainly to a stronger Dollar and lingering concerns surrounding equities and the trade war. Although Gold seems oversold, the $1235 low could be reached as, technically speaking, there is nothing to hold it on its way down.
• US Indexes – DJ fell by 0.68%, S&P declined by 0.86%.
• European Indexes – UK 100 depreciated by 0.14%, DE 30 rose by 0.11%.
• Asian Indexes – ASX 200 moved 0.24% higher, Nikkei closed unchanged, Hang Seng trades 0.30% higher.
• US Equities – Twitter plunged by 2.54%, Exxon Mobil surged by 1.59%.