TODAY’S IMPORTANT INDICATORS
Currency markets ended to another ranging session yesterday as no economic indicators were due during bank holidays around the globe. Oil saw an upmove adding pressure on global inflation.
MARKET MOVERS
EUR/USD – Euro-Dollar mixed but momentum built from fresh lows shows bullish bias. Euro fell to a 5½ month low yesterday reaching $1.1710, a level at which bulls started building up their positions in order to respect the 78.6% Fibonacci retracement. With no major news today, it is possible that the price will remain above $1.1764 by end of day.
EURUSD DAILY CHART
GBP/USD – Cable bearish but daily formation shows indecision, focus on inflation hearings. The British Pound ended the session lower in the Monday session despite limited liquidity, although closing found the pair with a “fat doji” candle formation. Investors shift attention to today’s inflation hearings while the 38.2% Fibonacci attracts price.
GBPUSD DAILY CHART
USD/JPY – Dollar-Yen hits 4-month high before reversing to a “doji” formation. Dollar-Yen rose to 111.40 yesterday, marking a fresh 4-month high and breaking above the 61.80% Fibonacci retracement, otherwise known as “golden ratio”. The indecision formation may continue for another day as no major indicators are due.
USD/JPY DAILY CHART
USOIL – Oil only one to push definitively during quiet Monday as “trade wars” on hold. Oil moved higher yesterday following Mnuchin’s announcement on the “trade war” between USA and China. A day after API reports its weekly crude stocks price reached a multiyear high of $72.65/b.
CRUDE OIL 1-HOUR CHART
XAU/USD – Gold mixed with bulls taking over control at fresh 5-month low. Gold reached an intraday low of $1281/oz, a low not seen since December 2017. While price is under pressure, it is important to notice that the golden ratio is once again standing firm, not allowing bears to push price lower. Risk appetite later in the week to provide further clues.
XAUUSD DAILY CHART
US Indexes – DJ surged 1.21 higher, S&P 500 soared by 0.74%.
European Indexes – Both DE 30 and UK 100 closed 0.12% and 0.14% higher, respectively.
Asian Indexes - ASX 200 closed 0.65% lower, Nikkei 225 lost 0.18%, Hang Seng trades 0.60% higher.
US Equities – Twitter tilted 3.06% higher, Tesla followed with a rise of 2.77%
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