FXPrimus has summarized the important market indicator of the day.

Today’s Important Indicators

All three big majors fell yesterday as the currency markets are shaped by the Japanese markets and specifically BoJ’s decision to reduce its Government Bond buying.

Today, an array of reports is expected to be released with GB Manufacturing Production and US Crude OIL being on the spotlight.

Today’s Forecast for Important Trading Indicators

Market Movers

• USDJPY – DOLLAR dips 50 pips as Japanese YEN gains after BoJ reduces Government Bonds. DOLLAR fell versus YEN yesterday as investors started a massive sell-off following Bank of Japan’s reduction of the amount of bond buying which carries on also to today’s trading session. With investor sentiment set, market participants become worrisome ahead of week-end reports.

• EURUSD – EURO falls for a 3rd consecutive session despite good German figures. EURO kept falling after having reached a top at 1.208 continuing its bearish rally for a 3rd consecutive trading session. The pair declined despite sharp German Industrial Production and Trade Balance numbers were published as technical overtake. No upward pressure was seen either on the European Unemployment Rate, reaching a January 2009 low.
• GBPUSD – POUND marks time above 1.35 hurdle despite a bearish trading session. The British Pound closed another session with a battle between bulls and bears for a 3rd consecutive session, seeing the bears marginally winning the game. Investors’ focus turns to the Manufacturing Production report released at 09:30 GTM today while Cable is under pressure.

• USOIL – USOIL surges to fresh record high following a staggering API report. Oil surged to a fresh high of $63.34 per barrel after API reported a huge draw of 11.19 million barrels, marking it the 6th consecutive large draw in weeks. Despite a small build in Gasoline stocks, those were much smaller than what economists anticipated. Investors look forward to EIAs equivalent while OIL remains unchanged.
• XAUUSD – GOLD under pressure as investors safe-haven buys shift to YEN. Spot GOLD fell nearly $8 as risk aversion remained low in the marketplace and while the US DOLLAR Index saw a rise in value. GOLD prices have been under pressure since the top of $1326 was reached on the 4th as a possible move to take profits.
• US Indexes – DJ remained unchanged, S&P 500 rose by 0.17%.
• European Indexes – UK 100 plummeted by 0.36%, DE 30 saw a rise of 0.22%.
• Asian Indexes – ASX 200 tilted 0.08% higher, Nikkei surged 0.57% and Hang Seng trades 0.37% higher.
• US Equities – Tesla upsurged a massive 6.26%, Amazon followed with a daily increase of 1.44%.