U.S. equities successfully recovered from their lowest levels after having suffered their worst day of 2017 on Wednesday as Trump asked Comey to halt investigation into former National Security adviser Michael Flynn’s matter. As such, the Dow Jones Industrial Average gained 55 points, while the S&P 500 and the Nasdaq Composite, both rose by 0.4 percent and 0.7 percent respectively. Meanwhile, new developments surge in the U.S. presidential elections’ links with Russia. Current and former U.S. officials stated that 18 calls and electronic messages were exchanged during Trump campaign with Russia.
source: CNBC, Reuters, Investing.com
Meanwhile, on the commodity market, Gold prices inched higher and are on track for their biggest weekly gain since mid-April amidst political instability in the U.S. Gold futures were pulled back from two-week highs on Thursday to trade at $1,250.19 a troy ounce. Additionally, oil futures also rose to their highest today and as such, the Brent Crude was trading at $52.85 a barrel on hopes that output cuts will be extended.
Canada will be releasing its Core Consumer Price Index (CPI) for April and its Retail Sales for March, both due at 12:30 GMT Friday. These reports serve as an indicator for the Canadian economy and may thus impact the Canadian dollar trend. Elsewhere, Asian stocks continue to fall with the Nikkei 225 and the ASX 200 index both 0.18 percent lower. Toyota shares, on the other hand, gained 0.79 percent and this is a good opportunity to trade on this stock.
The EUR/USD pair recorded much volatility in yesterday night’s trading hours. The currency pair started tumbling from the very beginning of today’s session as from 00:00 UTC at the 1.11101 level. The highest level hit so far today was at $1.11117 around 04:00 UTC. The Ichimoku Cloud indicator suggests that the asset could consolidate further to trade within similar ranges and could experience a change in trends at 19:00 UTC, it is recommended to use the 60-Seconds tool to trade this asset today.
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.
The West Texas Intermediate started off on a positive note today at 00:00 UTC as it traded at $49.43 a barrel and was seen moving upwards. Its highest level for today was at $49.74 a barrel at 04:00 UTC. It may rise further through today. According to the Ichimoku Cloud indicator, the asset is expected to experience changes in trends at around 10:00 UTC and 16:00 UTC.
Things to watch on the market
Wall Street indices are highly recommended for today after stocks rose to record highs overnight. Trade the Dow Jones, the S&P 500 and the Nasdaq Composite with the Classic Binary tool.
Traders could consider the CALL option for the GOLD VS OIL pair, the GOLD/EUR, and Gold futures on Friday.
Consider trading on currency pairs such as the USD/CAD, EUR/CAD, GBP/CAD, AUD/CAD and the CAD/JPY. Also check the TSX 60 index with the Classic Binary tool today.