Talking-Forex.com
Talking-Forex.com
Lots of indecision in the FX markets, but one of the clear themes on the day was that of selling, primarily through EUR/GBP. Cable has been struggling through the day, with players keen to buy dips, but consistent gains in the cross rate saw the former pair hit through 1.4200, remaining under threat of a breach of Monday’s 1.4132 lows. EUR/GBP has come up against some resistance ahead of .7800 in the meantime, but along with EUR/USD and the rest of the crosses, remains well placed for further gains despite the prospect of further ECB accommodation this Thursday. Soft China trade data set the negative tone in the stock markets, but after a pre NY recovery in risk appetite, Wall Street losses reflected early European sentiment. The JPY has been the major beneficiary as a result, with the USD rate now back in the mid 112.00’s, and still threatening lower with the crosses following. AUD/USD held the recent uptrend to push back up to recent highs, but has been knocked off better levels accordingly, with NZD losses a little more prominent ahead of the RBNZ meeting overnight. A torrid session for CAD with volatile Oil prices. WTI matched the early Jan highs from which we saw the heavy losses dominating early year focus, but rejection has sent USD/CAD back towards 1.3400, with more upside on the cards.
The information within this website has been prepared and issued by Talking Forex on the basis of publicly available information and other sources believed to be reliable. Whilst all reasonable care is taken to ensure that the facts stated are accurate, neither Talking Forex nor any director, officer or employee shall in any way be responsible for its contents. This document is intended to provide clients with information and should not be construed as an offer or solicitation to buy or sell securities.You may cancel your service at any time, just contact us from the FAQ/support page quoting your registration email address and we will cancel your subscription as of the next billing cycle or refund your trial deposit.
Recommended Content
Editors’ Picks
USD/JPY jumps above 156.00 on BoJ's steady policy
USD/JPY has come under intense buying pressure, surging past 156.00 after the Bank of Japan kept the key rate unchanged but tweaked its policy statement. The BoJ maintained its fiscal year 2024 and 2025 inflation forecast, disappointing the Japanese Yen buyers.
AUD/USD consolidates gains above 0.6500 after Australian PPI data
AUD/USD is consolidating gains above 0.6500 in Asian trading on Friday. The pair capitalizes on an annual increase in Australian PPI data. Meanwhile, a softer US Dollar and improving market mood also underpin the Aussie ahead of the US PCE inflation data.
Gold price keeps its range around $2,330, awaits US PCE data
Gold price is consolidating Thursday's rebound early Friday. Gold price jumped after US GDP figures for the first quarter of 2024 missed estimates, increasing speculation that the Fed could lower borrowing costs. Focus shifts to US PCE inflation on Friday.
Stripe looks to bring back crypto payments as stablecoin market cap hits all-time high
Stripe announced on Thursday that it would add support for USDC stablecoin, as the stablecoin market exploded in March, according to reports by Cryptocompare.
US economy: Slower growth with stronger inflation
The US 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.