Good morning. Hope all is well! We have only had a 43% accuracy on our predictions for yesterday. This was mainly due to US Dollar and Japanese Yen being sidelined, should have approached a mixed sentiment for these two currencies yesterday. Australian and US Dollar pairs are on our watch list today on account of the fundamental watch. Going to take a mixed stance for today. Adding three hedged pairs to offset the risk. Happy Trading!
Forecasts Outlook
US Dollar: Mixed Sentiments
Today we're expecting the EURUSD to proceed Short below the barrier levels of 1.13617 and 1.13920.
Fundamental Watch
– Private Capital Expenditure q/q
– Prelim GDP q/q
– Unemployment Claims
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EUR/USD nears 1.0800 on broad US Dollar weakness
Optimism continues to undermine demand for the American currency ahead of the weekly close. EUR/USD hovers around weekly highs just ahead of the 1.0900 figure.
GBP/USD reconquers 1.2500 with upbeat UK GDP
Following BOE-inspired slump on Thursday, the British Pound changed course and trades around 1.2530. Better-than-anticipated UK GDP and a weaker USD behind the advance.
Gold resumes advance and trades above $2,370
XAU/USD accelerated its recovery on Friday, as investors drop the USD. Dismal US employment-related figures revived hopes for a soon-to-come rate cut from the Fed.
XRP tests support at $0.50 as Ripple joins alliance to work on blockchain recovery
XRP trades around $0.5174 early on Friday, wiping out gains from earlier in the week, as Ripple announced it has joined an alliance to support digital asset recovery alongside Hedera and the Algorand Foundation.
Euro area annual inflation is expected to be 2.4% in April 2024
Euro area annual inflation is expected to be 2.4% in April 2024, stable compared to March. Looking at the main components of euro area inflation, services is expected to have the highest annual rate in April.