Wall Street indices quoted higher

U.S. equities inched up on Wednesday after the Fed Chair Yellen’s stated that the Central Bank is likely to reduce its massive $4.5 trillion portfolio later this year. She also mentioned about a gradual interest rate hike. The Dow Jones Industrial Average closed at a record high of 21,532.14 points, while the S&P 500 gained 0.73 percent and closed its session at 2,443.25 points. Nasdaq Composite, on the other hand added 1.1 percent to close at 6,261.17 points as shares of PayPal reached record highs.

source: CNBC, BBC News

U.S. releases its Producer Price Index (PPI) for June at 12:30 GMT and this data is watched closely as it accounts for the overall inflation and is expected to affect trend of the U.S. dollar. Janet Yellen is set to testify again today at 14:00 GMT. After Yellen’s testimony on Wednesday, Asian indices were mostly trading higher, and also after markets got a boost from estimate-beating trade data. China’s trade balance with North Korea expanded by 10.5 percent to $2.55 billion in the January-to-June period.

Microsoft brings its AI to life with an app to help the blind ‘see the world around,’ the company promises to change the way the visually impaired can experience the world around them through the camera of a smartphone. With the app downloaded, users can point their phone’s camera at a person and the app will reveal who they are and how they are feeling. This can also be pointed at a product to know what it really is with the use of artificial intelligence running locally on users’ phone.

Technical Analysis

USD/JPY

USD/JPY

The asset recorded much volatility in yesterday night’s session after recording few pullbacks in its early trading hours. Today, the USD/JPY pair started off its session bearishly at 00:00 UTC at 113.326 yen to close this downtrend by 113.370 yen by 03:00 UTC. It seems like this asset is still under pressure as the Japanese yen was trading flat in Asian market. It is expected to follow a bearish trend as it continued to trade beneath the Ichimoku Cloud indicator.

EUR/AUD

EUR/AUD

On Wednesday, this currency pair recorded a huge set of pullbacks on the foreign exchange market, starting from 09:00 UTC at the 1.49837 level to close this bearish trend by 15:00 UTC at the 1.48736 level. Today, the EUR/AUD pair started off on a negative note at 00:00 UTC at the 1.48671 level and it could continue this bearish trend for the rest of today. This is available on the 60 Seconds Trading for today.

DXY

DXY

Yesterday, the U.S. dollar index gained momentum as from 13:00 UTC as it traded at the 95.58 level to reach a low level of 95.91, the same hour. This was followed by a much volatile trend for the rest of Wednesday. This index started dropping from the very beginning of today’s session as from 00:00 UTC as the U.S. dollar drops after Yellen’s testimony. A bearish trend can be noted for today.

Things to watch on the market

Tip 1

Consider trading Wall Street indices as investors await today’s session as these indices ended yesterday’s session at record highs. DOW is available for the One Touch Options.

 

Tip 2

Currency pairs such as the EUR/USD, GBP/USD, AUD/USD; and Asian indices such as the Hang Seng index, Hang Seng F-Jul17, Shanghai Composite and the SSE 180 are available on the Classic Binary Options.

 

Tip 3

Traders can consider trading on stocks of Microsoft after the announcement made by the company.