U.S. events could impact markets

An array of events line up in the U.S. today, starting with the Core CPI report for May which is due at 12:30 GMT. U.S. will release its Core Retail Sales and Retail Sales for May, both at 12:30 GMT. The Federal Open Market Committee (FOMC) will present its Economic Projections and Statement at 18:00 GMT. The FOMC will also be holding a Press Conference to make further announcements and answer queries at 18:30 GMT today. The dollar eased ahead of these data releases and the dollar index was seen down at the 96.930 level.

source: Investing.com, BBC News

The most awaited Fed Interest Rate Decision is due at today. The decision shall fall as the two-day meeting started yesterday ends today at 18:00. The U.S. Central Bank is widely expected to raise interest rates to a range of 1 to 1.25 percent and investors should pay close attention to details of Fed’s plan to reduce its $4.5 trillion balance sheet later this year. Elsewhere, oil prices edged lower around 1 percent after a rise in OPEC output. Crude prices have fallen over more than 10 percent since late May.

Several people have died after a huge fire raged at Grenfell Tower in West London. 30 people who have been injured during this incident are receiving hospital treatment. Around 200 firefighters have been tackling the blaze and there are still many reports of people trapped inside. Meanwhile, U.K. is set to release its Average Earnings Index +Bonus and its Claimant Count Change for the month of May, both at 08:30 GMT. These are expected to alter trends of the pound sterling further.

Technical Analysis



The EUR/JPY pair hiked around 07:00 UTC yesterday at the 123.161 level to reach a record high at the 123.652 during the same hour. Today, it opened its session bullishly at 123.375 yen, following the uptrend set on Tuesday night. Around 02:00 UTC, it started fluctuating on the market, the Ichimoku Cloud indicator suggests a change in trends as from 10:00 UTC, watch out for this opportunity.



This currency pair has performed brilliantly yesterday as it added gains in its early trading hours as from 04:00 UTC. It recorded several momentary jumps throughout the day to close this bullish trend by 19:00 UTC at $1.27542. Earlier on Wednesday, it started consolidating and was last quoted down at the 1.27462 level at 03:00 UTC. It may gradually rise through the day, try the Options Builder tool.



On Tuesday, the EUR/GBP pair traded downhill to reach a bottom low of 0.87863 around 19:00 UTC. Yesterday, the Pound reached record highs given a rising U.K. inflation rate. In today’s early trading hours, it was seen much volatile, thus making it difficult to decipher what trend it may follow. It is advisable to trade this asset with the 60-Seconds tool.

Things to watch on the market

Tip 1

The U.S. dollar definitely is the biggest catch of the day, currency pairs most likely to be affected, are the EUR/USD, GBP/USD and the AUD/USD. The NZD/USD pair can also be traded as New Zealand releases its First Quarter GDP at 22:45 GMT today.


Tip 2

Wall Street indices such as the DOW F-JUN16, Nasdaq and the S&P 500 should not be missed. Traders can also consider the Brent Crude Oil-Apr17 and the Gold vs Oil pair since the IEA will release the U.S. Crude Oil Inventories at 14:30 GMT.


Tip 3

Assets like the EUR/GBP, GBP/JPY, FTSE 100 and the FTSE MIB F-JUN16 index can be traded with the Classic Digital Options.