In buzz today is President Trump’s decision to consider former United States Senator from Connecticut, Joe Lieberman for the post of FBI’s Director. Trump will meet Lieberman and other candidates, including the acting FBI Director, Andrew McCabe, former Oklahoma Governor Frank Keating and former top FBI official Richard McFeely next Wednesday in an attempt to replace James Comey. Regarding the same issue, former FBI Director Robert Mueller was appointed as a special counsel to look into Russia’s involvement in the U.S. presidential election last year. This led Asian stocks to lose grounds on Thursday.
Earlier today, Australia released its Employment Change for April at 01:30 GMT. The Australian Bureau of Statistics depicted a fall of 5.7 percent in Australia’s jobless rate. Japan’s GDP data for the January-March period, which took place yesterday shows a growth of 0.5 percent for the specified duration, and grew by 2.2 percent at an annual pace. The yen however, was not much affected by this event.
Elsewhere, U.K. will present its Retail Sales for April due at 08:30 GMT and this data should be closely watched since it accounts for the overall economic activity of a country. The U.S. Philadelphia Fed Manufacturing Index for May is due at 12:30 GMT. Last economic event to watch out today is the speech by European Central Bank’s President Draghi which is set at 17:00 GMT and this could enlighten investors on short-term positive or negative trends for the EUR.
Since the Australian dollar gained value after a rise in its jobs data, the AUD/USD pair was also seen following an uptrend in morning trading hours. The currency pair started picking up momentum as from 01:00 UTC at $0.74268 to reach a peak of $0.74649 by 04:00 UTC today. The Ichimoku Cloud indicator suggests a change in trends around 08:00 UTC on Thursday, consider the Classic Binary tool for this one.
An analysis of the dollar index graph depicts a bearish trend since yesterday as it recorded several pullbacks to reach its lowest level at $97.40 around 21:00 UTC. In today’s early morning session, the index was seen recording much fluctuation on the market. Its highest level for today was at the $97.57 level around 04:00 UTC. It may follow this volatile trend till 13:00 UTC and may rise later today.
Yesterday, the asset recorded several momentary jumps as from 07:00 UTC to reach the 1.29153 level by 10:00 UTC. Immediately afterwards, it started fluctuating on the forex market. Today, the GBP/USD pair gained strength to record bullish candles as from 02:00 UTC to reach the 1.29704 level by 04:00 UTC. It is expected to fluctuate till 11:00 UTC and gradually fall through the day.
Asian stocks dropped on Thursday and as such, it is recommended to consider indices like the Nikkei 225, Kospi, ASX, Hang Seng Index and the Shanghai Composite for the Classic Binary tool, with the PUT option.
Since the Aussie gained value on the forex market today, it is highly recommended to invest on pairs such as the AUD/JPY, EUR/AUD and the AUD/USD today.
Worth investmenting in today are currency pairs like the EUR/GBP, GBP/USD, USD/JPY and Wall Street indices.