TODAY’S IMPORTANT INDICATORS
Safe havens have stalled despite a risk announcement from US President Trump as markets expect some sort of negotiations before sanctions are imposed. The Euro fell against the Dollar while other majors remained unchanged for another session. Investors eye the US PPI and the New Zealand interest rate decision while EIA releases its weekly stocks figures.
MARKET MOVERS
EURUSD – Euro falls despite positive German data, further downside possible. Euro-Dollar moved away from the golden ratio, finding support at the 161.8% Fibonacci extension near 1.1850. With no major European economic announcements today, the Euro is likely to be largely dependant on the US Dollar.
EURUSD DAILY CHART
GBPUSD – Pound ends session unchanged despite intraday decline on poor housing inflation. Sterling had another “battleground” day yesterday and managed to clear the session with a balance between bulls and bears despite having reached a 4-month low following the release of a bad HPI indicator. Price holds just above the 100% Fibonacci extension.
GBP/USD DAILY CHART
USDJPY – Yen remains mixed for a third consecutive trading day against Dollar, breakout looms. Dollar-Yen traders were more active in the Tuesday session as volatility levels increased marginally following a quiet Monday. With risk appetite remaining muted, price formed another indecision candle. Today, expectations may change as the PPI inflation figures loom.
USDJPY DAILY CHART
USOIL – Oil closes session unchanged but bulls impress again considering $2.5/b return. WTI hit a low of $67.90 on Wednesday following a sell-off ahead of a widely expected Trump announcement. Despite the US withdrawal from the nuclear deal, Oil traders bought the commodity massively and managed to reach the opening price. EIA will play its part today as the price is at a critical psychological and technical level.
CRUDE OIL DAILY CHART
XAUUSD – Gold neutral as market reaction to Iranian deal withdrawal did not accelerate activity. Gold traded within a range between 1317 and 1306 yesterday while investors eye the 1300 support. With Trump pulling out of the Iranian Nuclear deal one would have expected increased activity, however, investors traded moderately as a notice of 90 and 180 days is needed for sanctions to be imposed, giving some room for negotiations.
XAUUSD 1-HOUR CHART
US Indexes – DJ closed unchanged, S&P 500 closed 0.03% lower
European Indexes - UK 100 appreciated by 0.37%, DE 30 fell by a marginal 0.04%
Asian Indexes - ASX 200 tilted 0.34% higher, Nikkei 225 fell by 0.44%, Hang Seng trades 0.20% higher
US Equities – Twitter appreciated by 1.66%, Amazon fell by 0.48%
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