Today's Important Indicators
Markets traded on a moderate tone yesterday as Italian risk fears somewhat faded, having riskier assets getting more traction again, however, on a marginal tone as investors eye today’s jobs report. With eco data in EU and US taking over trading activity, and both being positive, markets ended mixed despite trade war tensions may soon escalate.
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MARKET MOVERS
EUR/USD – Euro a tad higher against Dollar on positive eco data, Italian risk fades away. Euro-Dollar closed 40 pips higher yesterday following a strong European CPI and of course due to the Italian drama turnaround that has investors losing patience on political awkwardness. Despite positive, the pair ended up forming an indecision candle as market participants eye today’s NFP.
EUR/USD DAILY CHART
GBP/USD – Pound pushed lower following an attempt to break above $1.33 as US posts good data. Cable found resistance above $1.33 hurdle as bulls sold the single currency above the psychological level following an array of good data from the US. Price saw an intraday high at $1.3347 yet subsided to $1.3292 to end the session uncertain and with a somewhat bearish bias. PMI in focus today.
GBP/USD DAILY CHART
USD/JPY – US eco data help Dollar recover from 18.37 low against Yen, pair firm above 108.75. Dollar closed a third consecutive session above 108.75 support, making the 38.2% Fibo level stronger, even though in a negative tone. Although US data supported the pair’s recovery from its daily low price formed a reversal indecision candle just a day ahead of the critical NFP.
| USD/JPY DAILY CHART |
USOIL – Oil falls despite inventory draw as US production rises, OPEC and Non-OPEC likely to follow. Oil lost over $1 per barrel in the Thursday session despite EIA’s report of crude stocks draw as concerns over increasing production overtook investors. The move was supported also by API’s inventory build reported on Wednesday. Oil remains around $67/b.
CRUDE OIL 1-HOUR CHART
XAU/USD – Gold lower despite trade issues, Italian politics shadowed by eco data. Gold price stopped and reversed right at the descending trendline/50% Fibo strong zone near $1300/oz as US eco data supported riskier asset classes. The yellow metal lost power since Italian fears let riskier assets rebound. Investors patiently wait for today’s jobs report for further clues.
XAUUSD DAILY CHART
US Indexes – DJ and S&P 500 declined 1.02% and 0.69%, respectively.
European Indexes – DE 30 rose by 0.62%, UK 100 saw an increase of 0.59%.
Asian Indexes - ASX 200 declined by 0.32%, Nikkei 225 depreciated by 0.14%, Hang Seng trades 0.12% higher.
US Equities – Facebook rose by 2.19%, Tesla fell by 2.40%
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