Daily Market Forecast, September 13, 2017 – EUR/USD, Gold, Crude Oil, USD/JPY, GBP/USD

The Pound saw a wave of speculative buying on Tuesday as inflation data from the U.K produced surprisingly strong gains. Gold found a foundation of support yesterday as speculative buying pushed the precious metal higher.

GBP/USD: Pound Launches Upwards

The Pound has continued to test the nerves of investors as it has spiked upwards. The British currency is now trading within the vicinity of 1.33 against the U.S Dollar. Better than expected inflation data from the U.K helped created the launch of the Pound on Tuesday. Now the Bank of England awaits tomorrow.

Gold: Buying Support Steps Up

Gold found buying support yesterday and this morning is near 1332.00 U.S Dollars an ounce. After being pushed to short-term lows on Tuesday, the precious metal showed the ability to reverse. Investors may be correlating their belief the U.S Dollar will remain weak, with a speculative desire to own Gold.

EUR/USD: Euro Edges Higher

The Euro traded in range against the U.S Dollar yesterday, but it did edge higher and the 1.20 juncture is in view. After facing headwinds late last week, the Euro appears ready for another potential test of highs. However, traders should understand short-term reversals may stay prevalent.

USD/JPY:  Long Term Perspective

The Yen has remained within its weaker stance. Japanese equities continue to rise this morning and risk appetite appears to be active. The Yen is trading slightly above 110.00 against the U.S Dollar. However, investors who have long-term viewpoints may believe the Yen will get stronger.

Crude Oil: Consolidated Value Holds

Crude Oil has continued to hold onto its consolidated value which is above 48.00 U.S Dollars a barrel. Crude Oil Inventories will come from the States today. But OPEC has also made some news regarding their claim they might extend their production cuts.

Yaron Mazor is a senior analyst at SuperTraderTV.

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