High Volatility expected today: Data release & event in AU, NZ, US and UK

August 30, 2017

Dollar Recovers As Geopolitical Jitters Subside.

High Volatility expected today: Data release & event in AU, NZ, US and UK

This article is originally referred from FXPrimus News

FXPrimus has provided the summary of Important Indicators of the day.

Today’s Important Indicators

Today volatility is expected to be high, starting with Australia’s Building approvals and Construction work reports at 01:30 GMT, while at the same time Gov Wheeler of RBNZ, speaks.

This will be followed by German and Spanish PMI reports and UK’s Net Private Lending from BoE, which will be released at 08:30 GMT.

The highlight for the day will be the U.S revised data on the 2nd quarter GDP, released after the ADP Jobs report while EIA will also release its latest stocks numbers at 14:30 GMT.

Today’s Forecast for Important Trading Indicators

Market Movers

  • EURUSDEuro rises past $1.20 against U.S Dollar following Eurozone data, Dollar recovers losses. Euro-Dollar reached a fresh high of 1.2070 during Tuesday’s session following a batch of economic data from the Eurozone, however, the Dollar managed to recover from losses on the NY open and later this was supported by better than expected CB Consumer Confidence data; current assessment at 16-Year high. The pair retraced all the way back to yesterday’s open and currently retests the recent low of 1.1955.

EURUSD 1-HOUR CHART

  • USDJPYYen pushed Dollar lower following positive inflation data, Dollar recovers as N.K threat recede. Yen reached an April low of 108.26 yesterday as BoJ CPI came out at 0.4%, while a figure of 0.2% was expected. Dollar recovered the losses despite the positive data from Japan as demand for the safe-haven eased after the United Nation stepped in on the North Korea crisis. Dollar-Yen gained over 160 pips since the April low was and currently trades by the previous high of 109.81.
  • GBPUSDThe British Pound has a strong start on the opening yesterday, price moves lower on stronger Dollar. Sterling made a fresh high, short-lived, as reaching 1.2977 against Dollar didn’t last long amid U.S and UK data. The pair retraced back below 1.2930, where the 23.6% Fibonacci retracement lays and could be heading lower to the next support at 1.2915 if Pound weakness or Dollar strength come into play.

GBPUSD 1-HOUR CHART

  • USOILOil declines on API’s inventory draw as fears over increase in the stocks raise on Hurricane Harvey. Crude Oil fell to a 5-Week low despite a major draw was reported from API as Crude prices have been falling since the start of the week as investors’ concerns that stocks are going to raise magnified. According to API inventories in the U.S have shed over 45 million barrels. Traders’ eye today’s EIA report, at 14:30 GMT.
  • XAUUSDGold declines on UN security interference on the North Korea missile test over Japan. Gold retraced back to 1307.00 levels as demand for the safe-haven eased after the United Nations Security Council declared Pyongyang incurable after he fired a missile that overflew Japan. Gold price remained above the 1300.00 barrier after hitting an 11-Month high early on Tuesday.
  • In US Indexes, S&P 500 closed marginally higher 0.08% while DJ increased 0.26%.
  • In Europe, UK 100 declined 0.87% while DE 30 slumped 1.46%.
  • In Asia, all indexes appreciated with ASX 200, Hang Seng and Nikkei being up 0.02%, 0.95% and 0.74% respectively.
  • In stocks, Apple climber 0.89% higher while Twitter 0.95%.

Original Source: FXPrimus News

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