Today's Important Indicators
Market risk returned back amid Trump’s ease on the Syrian regime having Dollar strengthening against most majors.
Euro, Yen and Gold fell while Pound, the session’s best performer rose om positive remarks from David Davis. Oil gained against Dollar marginally.
Market participants expect the UoM Consumer Sentiment as the last trading day of the week is here.
Today's Forecast for Important Trading Indicators
MARKET MOVERS
EURUSD – Euro lower as ECB minutes confirm inflation concerns, EU Industrial Production poor. Euro-Dollar fell 40 pips after a series of bullish sessions following ECB’s minutes as policymakers predict that the high exchange rate negative impact on inflation. In addition to a stronger US counterpart, the European Industrial Production was worse than expected. Price saw a rejection at the $1.23 hurdle and closed Thursday’s session at 1.2325 near 38.2% Fibonacci retracement.
EURUSD 1-HOUR CHART
GBPUSD – Pound breaches 2-week high for a fresh level, gets rejected just below March highs. Cable rose in the Thursday session continuing its bullish rally for a 5th consecutive session despite Wednesday’s indecision and Dollar’s strength. The pair reached an intraday high at $1.4250 following Davis remarks on trade matters and BoE’s meeting accounts. With no new in the economic calendar, today price is likely to remain below March high as the end of the week approaches.
GBPUSD 1-HOUR CHART
USDJPY – Risk back in the markets as Trump eases on Syria, Jobless Claims better than previous. Dollar-Yen appreciated nearly 60 pips on Thursday as President Trump eased his responses on Syria, shifting investor sentiment away from safe-havens. Despite tensions in the Middle East remain relevant the pair saw a rise as Dollar strengthened broadly following a good Jobless Claims report. Price remained below the 107.50 high but seems to be piercing through it in today’s trade.
USDJPY 1-HOUR CHART
USOIL – The rally in Oil prices continues as demand increases, Saudi Arabia eyes $80 per barrel. WTI closed above the strong multitooth resistance yesterday marking four consecutive sessions of bullish momentum despite an early attempt from bears to push price lower intraday. Price closed at $67 per barrel while OPEC formulates a strategy to move forward. SA hinted for an unofficial $80/b target.
OIL DAILY CHART
XAU/USD – Gold erases all Thursday gains as Trump tweet decreases demand for safe havens. Gold plummeted $17/oz in the Thursday session erasing all gains gathered on Wednesday as president Trump’s tweet hinted an ease on the Syrian regime. The US President’s tweet showed market that he may or not follow through with his promise to punish the Syrian regime, taking Gold to $1335/oz. Investors patiently wait for the Consumer Sentiment report as signs on directional activity are to be given.
XAUUSD DAILY CHART
US Indexes – DJ soared by 1.21%, S&P 500 rose by 0.83%.
European Indexes - UK 100 saw a marginal decline of 0.07%, DE 30 appreciated by 0.27%.
Asian Indexes - ASX 200 ended 0.22% higher, Nikkei 225 increased by 0.55%, Hang Seng trades 0.03% higher.
US Equities – Tesla declined by 2.28%, BoA rose by 2.51%
Stavros Tousios is an experienced forex market specialist who provides insightful market analysis to traders of popular currency pairs, stocks, commodities and indices. With a focus on technical analysis, he closely analyses present and historical market data in order to provide our clients with any relevant information which may help in making their strategic trading decisions.
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