Today’s Important Indicators & Market Movers to focus on

August 22, 2017

Data on German ZEW Economic Sentiment & UK’s Public-Sector Net Borrowing will be released.

Today’s Important Indicators & Market Movers to focus on

FXPrimus has summarized the Important Indicators of the day!

Today’s Important Indicators

Today volatility could be higher than Monday’s as market participants will eye UK’s Public-Sector Net Borrowing at 08:30 GMT, followed by the German ZEW Economic Sentiment release at 09:00.

The session will continue with Canada’s Core Retail Sales at 12:30 GMT, where a 0.3% figure is expected.

GAINERS and LOSERS

Today’s Forecast for Important Trading Indicators

Market Movers

  • USDJPYDollar rebounds against Yen on Afghanistan military supports talks. The greenback gained around 65 pips since Monday after a double bottom formation took place on the hourly chart. As long as the price remains below the 38.2 Fibonacci retracement this could lead the pair to fresh lows. There is nothing on the events calendar that has a direct impact on the pair but demand for safe-haven assets.

USDJPY 1-HOUR CHART

  • EURUSD – Euro moves higher on geopolitical concerns, tapering of asset programme. Dollar appreciated more than 70 pips on Monday despite Marseilles van attack as simulated military exercises between South Korea and U.S increased demand for safe-haven and dollar weakened across the board of currencies. Momentum came in play as expectations are that Draghi will give a hint at the time that the tapering of the asset programme will start, at the Jackson Hole. Euro-Dollar broke the descending trendline on the hourly chart and a retest could be expected.

EURUSD 1-HOUR CHART

  • USDCAD – Dollar moves lower against Loonie despite disappointing data for Cad. Dollar-Cad fell for another session as the Greenback failed to lift on new geopolitical developments. The pair has been in a fall since July, when BoC decided to raise interest rate for the first time in 7 years. Despite a worse than expected Wholesale Sales, yesterday the pair moved few pips lower. Eyes on today’s Core Retail Sales at 12:30 GMT.
  • USOIL – Oil falls as oversupply concerns remain after OPEC compliance meeting concludes. Crude Oil moved lower, re-entering the descending channel on the daily chart, after an upmove of $2 was seen last Friday. The move incurred on increased concerns over oversupply discussed at the joint OPEN – Non-OPEC Technical Committee (JTC) yesterday.
  • XAU/USD – Gold moves lower on Trump’s decision to keep troops in Afghanistan. Gold declined from $1.300 highs as demand for the safe-haven asset eased on Trump’s strategy to keep troop in Afghanistan. Gold prices appreciated a little on Monday’s session on amid fears in North Korea as U.S, South Korea started military exercises using computer-simulated software. Gold is to be watched over the next days/weeks.
  • On US Indexes, DJ and S&P 500 raised 0.13% and 0.12% respectively.
  • In Europe, UK 100 fell 0.07% while DE 30 slumped 0.82%.
  • In Asia, Hang Seng appreciated 1.02%, ASX 200 gained 0.41% and Nikkei remained almost unchanged with a marginal 0.02% decline.
  • In stocks, Tesla plummeted 2.76% and Bank of America followed with a decline of 1.02%.

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