Important market indicators for Black Friday!

November 24, 2017

Dollar Starts Recovering Losses After Quiet Trade.

Important market indicators for Black Friday!

FXPrimus has summarized the market indicators today.

Today’s Important Indicators

With Europe poised for weekly gains amid positive Euro-wide releases and a stronger Pound, Dollar is likely to close the week in a 70-pip decline.

While Euro traders are taking some profits near 1.1860, Dollar pushes higher against Yen on a quiet – in the economic frond – trade.

The market may offer some good opportunities today around the release of the German Ifo, and US Market PMIs.

Today’s Forecast for Important Trading Indicators

Market Movers

  • EURUSD – Euro tilts higher as Euro-wide PMI data upraise unexpectedly. Euro closed a 3rd consecutive session on a positive note following more upbeat reports coming from Germany, France and the Eurozone, with each of them having hit a seven, eighteen and six-year high respectively. Price confirmed the double top formation as the pair was rejected at the 1.1860 level reached on November 15.

EURUSD 1-HOUR CHART

  • USDJPY – Dollar sees first signs of recovery following Yen rally amid quiet Thanksgiving. US Dollar versus Yen closed unchanged on Thursday as sellers started taking profits on their shorts ahead of the light holiday session. The pair balanced the day out at 111.19. Today, Dollar started on a good footing having already recovered 30 pips versus Yen while no major announcements are scheduled for release.
  • GBPUSD – Pound hits a 6-week high, ends session a tad lower on profit taking, British data. Pound declined 15 pips by Thursday’s close mainly on investors taking profits near 1.3334 as the said level was last reached on October 13. Preliminary GDP data came out as expected but no wild fluctuations were seen on the pair, hence, it remained firm above 1.3300.

GBPUSD 1-HOUR CHART

  • USOIL – Oil strikes fresh 2-Year high following Keystone, EIA, bulls maintain momentum. Crude Oil gained nearly 40 cents yesterday following Wednesday’s and Thursday’s news from Canada and EIA. With Keystone pipeline being stalled for ­ possibly ­ weeks to come, demand is likely to, and has already started, increasing while hopes for higher prices remained awaken on the recent inventory draw.
  • XAUUSD – Gold ‘follows’ Dollar’s steps on quiet Thanksgiving trade, closed unvaried. Spot Gold swung to Dollar’s trails yet was slightly more volatile than USD, nonetheless, volatility was light too as Comex floor trading remained closed. Gold price stands firm just below the $1300 barrier.
  • European Indexes – UK 100 opens 0.08% higher, DE 30 trades +0.19%.
  • Asian Indexes – Hang Seng trades 0.48% lower.

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