A number of trading opportunities from UK and US awaiting today!

November 15, 2017

Dollar Sell-Off Adds to Majors, US Data in Focus.

A number of trading opportunities from UK and US awaiting today!

This article is originally referred from FXPrimus News

FXPrimus has summarized the important market indicators of the day.

Today’s Important Indicators

Euro rose to a 3-Week high yesterday on positive German GDP while a wide sell-off on Dollar supported a raise in all major pairs, and mainly Sterling, as it has experienced a nosedive following a print of disappointing CPI data.

Today, investors may find a number of opportunities based on news coming out from the UK and US.

Today’s Forecast for Important Trading Indicators

Market Movers

  • EURUSDEuro breaks descending channel on upbeat German economic growth data. Euro hit a 3-Week high near $1.18 amid concrete German GDP growth released ahead of the ECB Conference in Frankfurt. The bullish momentum took price above the top trendline of the bearish channel started developing back in August and later got rejected at FE 161.80%.

EURUSD 4-HOUR CHART

  • GBPUSDPound falls on poor CPI howbeit surges as Dollar sell-off prevails. GBPUSD slipped yesterday as much as 50 pips as UK CPI data printed a worse than expected figure. The pair reversed its route recovering all losses following a continuous sell-off in USD and the T-bond Yields. The pair currently pierces through the 100 4H-MA trading near 1.3180 while market participants expect more clues around the release of earnings and unemployment data.
  • USDJPYDollar declines despite positive PPI on strong EU data, Bullard’s remarks. The US Dollar fell following its recent rally near $114 as a strong German GDP print added pressure. In addition, Fed’s Bullard comments encircling interest rates and inflation led USDJPY closer to $113, where a price rejection was seen. Investors’ eye today’s inflation and consumer spending figures while the December hike seems already priced in.

  • USOILOil falls on poor API inventories report, IEA’s prospects for 2018 demand for Oil. Crude Oil lost some ~$2 following a disappointing API report and IEA’s bearish forecast on Oil demand. API reported a build-up of 6.513M, against 1.4M expected. Gasoline inventories were not favourable either. WTI currently trades near $55.25 per barrel while investors look forward for EIA’s release later today.
  • XAUUSDGold surges above $1280 as Dollar dips, adding approx. $9.10 worth of value per ounce. Stop Gold gained owed to Dollar’s weakness, raising from 9-Day low reached during yesterday’s Asian session. Price was rejected at the FE 61.80% near $1282 at least 4 times while a recent attempt failed too as market players eye the US CPI and Retail Sales releases.
  • In US Indexes, DJ and S&P 500 fell by 0.13% and 0.23% respectively.
  • In Europe, UK 100 is trading unchanged, DE 30 0.31% lower.
  • In Asia, ASX 200 slid 0.56%, Hang Seng plummeted 0.90%.
  • In stocks, Tesla tumbled 2.12% higher, Apple sunk 1.51%.

Original Source: FXPrimus News

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