Today’s Important Indicators

A relatively quiet Friday for most pairs as economic releases indicate.

After a surprising increase in volatility and a lot of action mainly backed on political development in US, today, investors may be looking for opportunities to buy or sell CAD related pairs as important inflation related data is expected to be released.

Today’s Forecast for Important Trading Indicators

Market Movers

• GBPUSD hits an 8-Month record high above $1.30 on hawkish data, slumps ~160 on Comey’s video. GBP plunged to 1.28877 (see chart) in less than 15 second on a small magnitude flash-crash after released video proves no “obstruction of justice” for US president. Trump may be well off the hook.

• USDCHF sinks to 6-Month low of 0.97575 on bad European opening, makes a comeback. USDCHF increased safe heaven demand took the pair to its lowest since November. The losses were balanced on positive trump development.
• USDJPY to 3-Week low only to rebound on positive Job and Manufacturing data. USD gained 0.55% against Yen covering over 150 pips on Thursday’s session, holds above 111.500. Gains this morning along with Aussie on Brazil Temer scandal.
• Oil downturns on extended OPEC cuts, re-bounces to weekly highs. Crude oil slumped to $48.36 on ongoing effort to decrease global output, gains +0.27 on Thursday’s close, above $49/b.
• EURUSD bullish momentum on a pull back, remains above 1.1100 comfort level. EURUSD takes a small sell-off 70 pips as Dollar sees adequate recovery on positive data and recent political developments. Gold follows on a similar manner.
• Loonie strong against the Dollar, still in consolidation above 1.36000. USDCAD hit a week high at 1.3693 only to pull back due to Crude recovery.
• Asian Indices traded lower on Thursday’s session for a second consecutive day.

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