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After such a quiet day on the economic front yesterday, today has been littered with data releases and central banker speeches, with more still to come overnight out of New Zealand & Japan.
A very mixed day on the back of all this data today for the U.S. Dollar, but it is slightly in the green for the day. Zooming out a bit and taking a look at the USDollar Daily chart we can see that the trend for the USDollar is definitely still up but we are definitely still capped by the previous highs and with Trade concerns between China and the U.S. weighing it may take a breakthrough with trade talks to push this through the highs.
US DOLLAR – DAILY
After a miss on the claimant change number today, the Sterling-Dollar exchange rate has seen a little bit of a slide today, currently trading down -0.42% on the day.
On the technical front, we are are now sitting right on the declining trendline that we’ve been looking at previously. For the time being, we seem to have found some support, however, this may just be volatility declining into the end of the EU session.
GBPUSD – 4 Hour
Forex Majors Summary
A choppy day today in the Oil markets, currently trading up $0.02 a barrel or +0.03% on the day, just about as close to flat on the day as you can get.
Metals sliding lower today on the back of the U.S. Dollar seeing a bit of a bid today, both Gold & Silver grinding lower today although the move in Gold is definitely more pronounced. Gold currently down $12.09 an ounce or -0.94% and Silver is down $0.01 an ounce or -0.05%.
USOUSD – Daily
A positive day across the board for Global Indices with Europe leading the charge, despite a small dip as markets come to the close.
In the U.S., Indices are still in positive territory but they are definitely weighed on this week with all the earnings releases, this is a trend we can expect to see throughout the week unless we see either major upsets or beats in which case we could potentially see a more substantial move in the Indices. The S&P500 still holding above that 2900 level for the time being.
Cryptocurrencies in the green almost across the board today, however, they are a little muted today with the biggest move today coming from Litecoin, trading up 1.37% on the day.
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By Alex Simcock
This article is written by a GO Markets Analyst and is based on their independent analysis. They remain fully responsible for the views expressed as well as any remaining error or omissions. Trading Forex and Derivatives carries a high level of risk.
Sources: GO Markets MetaTrader 5, Datawrapper, Tradingview, CoinMarketCap, Bloomberg, Twitter