Good morning. Hope all is well! We seem to have had a moderate forecast for yesterday with a 57% accuracy. As expected US Dollar lost a little steam, only a by a single point our scale. British Pound, Canadian, Australian and US Dollar pairs are on our watch list today on account of the fundamental watch. We could be in for a Strong US Dollar while Japanese Yen may let out some steam. Adding one hedged pair to offset the risk. Happy Trading!
Forecasts Outlook
US Dollar: Strong
Today we're expecting the EURUSD to proceed Short below the barrier levels of 1.07845 and 1.07549.
Fundamental Watch
– Construction PMI
– Trade Balance
– Trade Balance
– Unemployment Claims
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Editors’ Picks
EUR/USD consolidates gains below 1.0700 amid upbeat mood
EUR/USD is consolidating its recovery below 1.0700 in the European session on Thursday. The US Dollar holds its corrective decline amid improving market mood, despite looming Middle East geopolitical risks. Speeches from ECB and Fed officials remain on tap.
GBP/USD clings to moderate gains above 1.2450 on US Dollar weakness
GBP/USD is clinging to recovery gains above 1.2450 in European trading on Thursday. The pair stays supported by a sustained US Dollar weakness alongside the US Treasury bond yields. Risk appetite also underpins the higher-yielding currency pair. ahead of mid-tier US data and Fedspeak.
Gold price shines amid fears of fresh escalation in Middle East tensions
Gold price rebounds to $2,380 in Thursday’s European session after posting losses on Wednesday. The precious metal holds gains amid fears that Middle East tensions could worsen and spread beyond Gaza if Israel responds brutally to Iran.
Ripple faces significant correction as former SEC litigator says lawsuit could make it to Supreme Court
Ripple (XRP) price hovers below the key $0.50 level on Thursday after failing at another attempt to break and close above the resistance for the fourth day in a row.
Have we seen the extent of the Fed rate repricing?
Markets have been mostly consolidating recent moves into Thursday. We’ve seen some profit taking on Dollar longs and renewed demand for US equities into the dip. Whether or not this holds up is a completely different story.