Crude Oil Inventories Report, USD Firms & Lira Parks

Wednesday the market is teaming up with several uncorrelated events which are driving market sentiments and market trends. Today US Crude Oil Inventories are on tap, as well as a deluge of UK’s Consumer Price Index (CPI), Producers Price Index (PPI), US Core Retail Sales and Industrial Production reports. Lace with Earning reports from 46 companies. Including Macy’s Inc. (M) Analysts are under the impression today’s reports are likely to boost the US 30.

Global Stocks:

Global Shares were in search of supportive data as losses from emerging markets weighed. However, EU Share seemed to have pondered on the effect for a few hours and then resorted to ignoring the gloom. The Strong countries on the bloc witnessed stocks tacking on gains.

• Germany 30: By the time of print 08:55 had managed to rally, 0.28% ranging between 12,369.08 – 12,426.02 with possible upside in view.
• UK100: was not out of the woods yet, plummeting -0.11% oscillating between 7,600.50 – 7,632.50.
• Italy 40: Got unfortunate with the Highway Bridge in Genoa which is reported to have killed some 20 people in counting and disrupting business for a few hours. The Italy 40 was down 0.04% trending from   21,125.00 –  20,835.00.
• France 40: Turned bullish up 0.01% at 5,403.78, however, oscillates between small gains and losses, in a  5,400.32 – 5,417.19

Currencies:

Are lined up in classical correlation and inverse correlation. With the USD above its 56-day average. The DXY, rallied 0.10% ranging from 96.66 – 96.87.

• EUR/USD With the Dollar up 14 months high, the EUR plummeted. The pair was seen trading between 1.1317 – 1.1350 down 0.19%.
• USD/JPY The Safe heaven Yen lost some of its lusters. Given way to the USD to climb further ahead of today’s reports. The Pair were spotted trending from 110.60 – 111.43.
• AUD/USD  could not recover from it fall yesterday down 0.15% ranging from 0.7203 – 0.7244 in reverse mode.
• GBP/USD has been cringing waiting for a lifeline. Albeit a drop of 0.06% trading between 1.2692 – 1.2735.

Commodities:

• Commodities were pinned down, as the USD gained.
• XAU/USD:  Was seen down trotting between 1,185.06 – 1,194.74 a drop of -0.63%
• While the Gold Spot fell by 0.62% to trade between 1,191.90 – 1,201.70.
• Oil prices have been dropping ahead of today’s crude oil inventories report, shedding 1.01% to trade from 66.03 – 66.89

Cryptocurrencies;

Cryptocurrencies are highly volatile.  BTC/USD was trading between a range of 5,980.9 – 6,289. Up 2.58% with possible upsides.

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