FXPrimus has summarized the important market indicators of the day.

Today’s Important Indicators

DOLLAR moved higher as the “Monday Equity Flash Crash” subsided, taking safe-havens lower as risk appetite shifted.

EURO and POUND were mixed following the US and Asian equity sell-off. OIL rose due to API reporting a huge inventory draw while GOLD fell as a result of risk sentiment.

Markets will focus on the EIA OIL report and Kiwi Employment report.

Today’s Forecast for Important Trading Indicators

Market Movers

• EURUSD – EURO flat as global equity sell-off slows down, correction to $1.23 hurdle. EURO ended Tuesday mixed following the US and Asian equity sell-off in the European session and a rejection at lower rate levels following the US equity market recovery in the NY session. The battleground between bulls and bears was marked between 1.2445 and 1.2310. The 61.80% Fibonacci critical.

• USDJPY – YEN weakens amid US Equities mild recovery, demand for the safe-haven fell. The Dollar-Yen pair rose in the Tuesday session following a US equity market recovery after the massive Monday sell-off and shift to safe-havens. Dollar-Yen pierced the 109 level but subsided for a daily close of 108.45 following a bad JOLTS report. FOMC members Dudley and Williams may set the tone for short-term directional momentum.
• GBPUSD – POUND hits a 2-Week low below $1.39, recovers early losses to form a bullish “doji” candle. CABLE fell early in the London and European session following global markets against the DOLLAR and also amid government disagreements over Brexit. After hitting a 2-Week low at 1.3835 the pair reversed its course and closed above the 50.00% Fibonacci yet below $1.40.
• USOIL – OIL reaches a 3-Week low at $62.87, holds above 38.20% Fibonacci after API reports stock draw. WTI broke the 23.60% Fibonacci and temporary also the next Fibo level for a deeper correction to the $63.21 per barrel. Bearish pressure subsided following a surprise Crude Oil Inventory draw while short-term directional bias will be confirmed today as EIA reveals its own data.

• XAUUSD – GOLD falls as Equity “flash crash” eases off, investors shift back to riskier assets. Spot GOLD closed $16 per ounce lower in the Tuesday session following a sell-off of safe-havens at the expense of a stronger DOLLAR. Despite concerns over higher inflation investors turned into a more attractive US counterpart.
• US Indexes – DJ rose by 2.33%, S&P 500 by +1.74%.
• European Indexes – UK 100 plummeted by 2.46%, DE 30 plunged by 2.32%.
• Asian Indexes – ASX 200 appreciated by 0.87%, Nikkei 225 by +0.16%, Hang Seng trades 0.32% lower.
• US Equities – Apple soared 4.18%, Amazon followed with a +3.80%.