Good morning, hope everyone had a great week end! Friday’s forecasts went in our direction for the most part, however two pairs had the strength to retrace to out blue zones, but overall we were in the correct direction. We could see some action on Japanese Yen in time to come. Today we are expecting the US Dollar to weaken moderately, while Japanese Yen could strengthen. Not adding a hedged pair to offset the trading risk. Happy trading everyone!!
Forecasts Outlook
US Dollar : Weak
Today we're expecting the EURUSD to proceed Long above the barrier levels of 1.32869 and 1.32600.
Fundamental Watch
- Net Lending to Individuals m/m
- M4 Money Supply m/m
- Mortgage Approvals
- CBI Realized Sales
- Pending Home Sales m/m
- Building Consents m/m
- Household Spending y/y
- Unemployment Rate
- Prelim Industrial Production m/m
- BOJ Gov Kuroda Speaks
- Building Approvals m/m
- RBA Gov Stevens Speaks
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Editors’ Picks
AUD/USD stands firm above 0.6500 with markets bracing for Aussie PPI, US inflation
The Aussie Dollar begins Friday’s Asian session on the right foot against the Greenback after posting gains of 0.33% on Thursday. The AUD/USD advance was sponsored by a United States report showing the economy is growing below estimates while inflation picked up. The pair traded at 0.6518.
EUR/USD faces a minor resistance near at 1.0750
EUR/USD quickly left behind Wednesday’s small downtick and resumed its uptrend north of 1.0700 the figure, always on the back of the persistent sell-off in the US Dollar ahead of key PCE data on Friday.
Gold soars as US economic woes and inflation fears grip investors
Gold prices advanced modestly during Thursday’s North American session, gaining more than 0.5% following the release of crucial economic data from the United States. GDP figures for the first quarter of 2024 missed estimates, increasing speculation that the US Fed could lower borrowing costs.
Bitcoin price continues to get rejected from $65K resistance as SEC delays decision on spot BTC ETF options
Bitcoin (BTC) price has markets in disarray, provoking a broader market crash as it slumped to the $62,000 range on Thursday. Meanwhile, reverberations from spot BTC exchange-traded funds (ETFs) continue to influence the market.
US economy: Slower growth with stronger inflation
The dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.