Blueprint FX Desk
Blueprint Capital
Market focus today
USD Personal Income & Spending
Expect high volatility in
Medium Volatility for USD pairs
News Roundup
No immediate relief for Greek government Negotiations in Athens continued over the weekend haggling, in this case with creditors over economic reforms, but there appeared to be little success. Creditor nations are demanding Greece implements reforms in order to access EUR7.2bn in undisbursed bailout funds but Athens is resisting at what it calls “recessionary measures” like cutting pensions or relaxing labour laws. The money is due to run our April 20th…
UK election campaigning David Cameron will travel to Buckingham Palace today to notify the Queen of the dissolution of parliament, officially starting the 2015 election campaign. Paul Mason argues that the coming election will be dominated by geopolitical divides– “Scandi-Scotland, the asset-rich southeast and rump-post-industrial Britain”.
Iranian officials took nuclear talks to the wire, raising a further obstacle by saying that they are no longer willing to ship their atomic fuel out of the country – a critical element of a proposed deal and one with which Iran had previously indicated it had agreed to.
TENSIONS are also rising elsewhere in the Middle East, as Arab leaders drew up plans for a joint military force, underlining Middle Eastern Sunni nations’ determination to challenge Iran’s expanding influence in the region. However, immediate tensions in the Yemen seemed to have receded, at least for the time being.
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Editors’ Picks
EUR/USD holds below 1.0750 ahead of key US data
EUR/USD trades in a tight range below 1.0750 in the European session on Friday. The US Dollar struggles to gather strength ahead of key PCE Price Index data, the Fed's preferred gauge of inflation, and helps the pair hold its ground.
GBP/USD consolidates above 1.2500, eyes on US PCE data
GBP/USD fluctuates at around 1.2500 in the European session on Friday following the three-day rebound. The PCE inflation data for March will be watched closely by market participants later in the day.
Gold clings to modest daily gains at around $2,350
Gold stays in positive territory at around $2,350 after closing in positive territory on Thursday. The benchmark 10-year US Treasury bond yield edges lower ahead of US PCE Price Index data, allowing XAU/USD to stretch higher.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
US core PCE inflation set to signal firm price pressures as markets delay Federal Reserve rate cut bets
The core PCE Price Index, which excludes volatile food and energy prices, is seen as the more influential measure of inflation in terms of Fed positioning. The index is forecast to rise 0.3% on a monthly basis in March, matching February’s increase.