Currencies
- The euro (EUR) managed to break its previous resistance and climbed up to 1.2569 against the US dollar (USD). The euro advanced ahead of the FOMC statement due today at 19:00 GMT as investors are watching for signals from the Fed of rising interest rates.
- The US dollar (USD) continues the decline as drops down to 115.55 against the Japanese yen (JPY). The yen continues to rise as investors are shifting towards safer assets due to the substantial slump of oil prices and after Shinzo Abe election.
Equities
- The US equities collapsed as there are concerns about global economic growth. The US 500 (SPI) declined down to 1969, the US 30 (DOW) dropped from 17429 to 17050 and the US Tech (NDQ) fell to 4083.
Commodities
- WTI Crude (OIL) continues the downside as it reached a new 5-year low at 53.58 US dollars per barrel, as Russia stated that won’t cut production next year. Crude Oil inventories are on the calendar and expectations show -2.6 Million barrels held in inventories.
Mover & Shaker with forex options
- Gold (XAU) skyrocketed up to 1223 before the retracement down to 1187 US dollars an ounce, during yesterday’s session. The metal slid on speculation that Russia may sell its gold reserves and we may see a hike on US interest rates in due course.
- Option traders may consider buying a Put on the XAUUSD and gain if the pair moves lower, while the risk is limited to the premium paid.
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EUR/USD holds above 1.0700 ahead of key US data
EUR/USD trades in a tight range above 1.0700 in the early 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.
USD/JPY stays above 156.00 after BoJ Governor Ueda's comments
USD/JPY holds above 156.00 after surging above this level with the initial reaction to the Bank of Japan's decision to leave the policy settings unchanged. BoJ Governor said weak Yen was not impacting prices but added that they will watch FX developments closely.
Gold price oscillates in a range as the focus remains glued to the US PCE Price Index
Gold price struggles to attract any meaningful buyers amid the emergence of fresh USD buying. Bets that the Fed will keep rates higher for longer amid sticky inflation help revive the USD demand.
Sei Price Prediction: SEI is in the zone of interest after a 10% leap
Sei price has been in recovery mode for almost ten days now, following a fall of almost 65% beginning in mid-March. While the SEI bulls continue to show strength, the uptrend could prove premature as massive bearish sentiment hovers above the altcoin’s price.
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.