Know what’s happening in the financial markets today! FXPrimus provides important market indicators.

Today’s Important Indicators

Today volatility will be high starting with RBA’s most recent meeting’s minutes at 01:30 GMT.

The Office for National Statistics will release UK’s CPI reading at 08:30 GMT, where this is expected to increase 0.1% from the previous release.

The session will close with the monthly U.S Core Retail Sales and Manufacturing Activity in the region of New York at 12:30 GMT while other medium impact reports are also expected to add to volatility.

Today’s Forecast for Important Trading Indicators

Market Movers

• USDJPY – Dollar strengthens against Yen amid safe-haven demand decline, as tensions between N.K – U.S, ease. Dollar raised on Monday’s session after a slump last Friday as safe-haven currencies gave up gains after U.S officials took the heat off by saying “We do not seek an excuse to garrison U.S. troops north of the Demilitarized Zone”. Dollar moved at least 100 pips against Yen as the latter started Tuesday’s session in a bad foot.
• EURUSD – The greenback recovers from last week’s losses against Euro as U.S seeks diplomatic resolutions with N.K. Euro-Dollar weakened at least 60 pips since Monday’s open, as commentary of U.S officials and Chinese president Xi Jinping for a peaceful resolution on latest U.S – N.K developments, weighed in. The pair broke up the descending channel which could be a confirmation of a continuation as the 23.6% Fibo retracement supports.

• GBPUSD – Pound extends its losses marginally as investors eye the inflation data release today. Sterling moved marginally lower on Monday extending its losses, started on the 3rd Aug, after BoE left the rates unchanged as investors are waiting for today’s CPI report at 08:30 GMT to decide on their next trades. The downside pressure remained on the pound as the decline of over 300 pips in a week weighed in while market participants remain concerned about Brexit. The pair may move on the U.S Core Retail Sales report later today.
• USOIL – Oil plummets 2.5% amid slow demand for Oil from China while OPEC output concerns remain. Crude Oil decline to a 3-Week low as Chinese refinery activity hits a 12-Month low amid concerns that demand for refined fuel products could ease demand on Crude. In addition, increased production from OPEN-led countries and the EIA added further pressure to the downside slump experienced in a few hours. Oil price is a technically critical point having pierced the ascending trendline starting on the 21st of July.

• XAU/USD – Gold retires from 2-Month high as risk appetite returns back in the markets. Gold retested the 1274 level earlier this morning after a decline of 0.70% took place on increased demand on risk-on assets while the prospect of war on the Korean peninsula was downplayed. Gold moved closer to the 50 SMA on the 4-Hour chart however the previous lower high of 1274 held the price of the precious metal, for the time being, intact.
• XAU/USD – Gold spikes to 2-Month highs after “fire and fury” increases buying panic. Gold moved closer to $1280 on the back of safe haven demand after N. Korea said that it plans to attack Guam. Tensions escalated on Trump’s reply while US Dollar has seen an upsurge over the past few days, taking investor risk-off appetite to new highs. The pair could potentially hit the 1296 level reached on the 6th of June as there’s no obstacles confirming that this couldn’t be the case.
• US indexes closed with DJ +0.62% and S&P 500 +1.00%.
• In Europe, UK 100 appreciated 0.60%, whereas DE 30 saw a rise of 1.26%.
• In Asia, Hang Seng gained 0.40%, ASX 200 increased 0.64%, and Nikkei jumped 1.22%.
• In stocks, Bank of America climbed up 2.35% while Facebook followed with an uptick of 1.59%.