Good morning. Hope all is well. We have had a good forecast for yesterday with 5 out of the 7 pairs behaving close to our predictions. The Oceanic pairs were the stubborn ones that didn’t go according to plan. Both US dollar and Japanese Yen has been on a weak streak yesterday. Currencies to keep an eye out for today would be US and Canadian Dollar due to our fundamental watch. Today the US Dollar is looking like it may let out some steam while Japanese Yen could be sidelined. Adding one hedged pair to offset the trading risk. Happy Trading!
Forecasts Outlook
US Dollar: Weak
Today we're expecting the EURUSD to proceed Long above the barrier levels of 1.32804 and 1.32501.
Fundamental Watch
- Core CPI m/m
- Core Retail Sales m/m
- Fed Chair Yellen Speaks
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Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.