The euro surged to a one-week high on Tuesday ahead of Eurozone’s GDP data, due at 09:00 GMT. The currency rose by 0.1 percent to trade at $1.0986, the highest level since May 8th. The German ZEW Economic Sentiment for May is set to be released at 09:00 GMT. It’s a survey of about 350 German institutional economists and analysts who provide their opinions regarding the economic future of Germany for the upcoming six months.
source: Investing ; Reuters
U.K. will be releasing its yearly CPI for April at 08:30 GMT and this report’s figures deserve much attention as they may set new trends for the GBP. Meanwhile, Asian stocks climbed to a fresh two-year high after an overnight rise of Wall Street indices. Hong Kong’s Hang Seng index jumped to its strongest level since June 2015, while the Nikkei 225 reached to its highest since December 2015 today.
Elsewhere, U.S. will be presenting its Building Permits for April at 12:30 GMT, this report should closely be watched as it can give a hint to the economy’s state in the near future. Gold futures are seen gaining strength since yesterday. As such, Gold prices were seen trading at $1,234.34 a troy ounce, consider trading this within similar range.
The currency pair was seen edging up by 0.12 percent as it traded at $0.7422 at 00:00 UTC today. A look at the AUD/USD graph depicts much volatility during its early trading hours. The RBA Meeting Minutes due earlier at 01:30 UTC could have impacted its trend on Tuesday. It gained momentum as from 03:00 UTC, however, it may fluctuate further through today. Consider the 60-Seconds tool for this one.
The GBP/USD pair started off today’s session on a bullish candle at $1.29016 at 00:00 UTC. It was nevertheless followed by considerable fluctuations in the next few hours. Weaker dollar prices set new trends for this asset on Tuesday. It was last quoted bearish at 04:00 UTC at the 1.29104 level. The Ichimoku Cloud indicator suggests a change in trends around 08:00 UTC. This asset can be traded with the 60-Seconds tool.
Crude oil prices rose further in Asia today, following yesterday’s positive trend after Saudi Arabia and Russia agreed on extending oil output cuts until March 2018. The benchmark Brent crude edged up by 0.41 percent today around 01:00 UTC to trade at $51.99 a barrel. It was later seen consolidating, to trade within similar ranges. It could fall through 12:00 UTC and fluctuate afterwards. Consider the GOLD VS OIL pair with the CALL option.
Things to watch on the market
Indices like the German DAX and the DAX F-JUN16 are recommended. Also check the trends of the EUR/USD, EUR/GBP, and EUR/AUD pairs.
Consider trading currency pairs such as the GBP/USD, EUR/GBP and GBP/JPY today, along with U.K.’s FTSE 100 index and the DAX VS FTSE pair today.
Wall Street indices demand much attention on Tuesday, along with the S&P VS NASDAQ pair as these indices closed at record highs yesterday night. GOLD VS SILVER pair can be trade with the PUT option.