Good morning! Hope all is well. Today we could be in for some action as there are many fundamental news items coming out that could affect many currencies such as Euro, US Dollar, Canadian Dollar and New Zealand Dollar. We seem to have had a good forecast for yesterday with the US Dollar weakening and Japanese Yen being sidelined. Our blue zones on some pairs seems to very big, hence it is a bit hard to judge a direction, however through the course of today we could see a weak US Dollar and a strong Japanese Yen. 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 1.38121 and 1.37862.
Fundamental Watch
- French Flash Manufacturing PMI
- German Flash Manufacturing PMI
- MPC Asset Purchase Facility Votes
- MPC Official Bank Rate Votes
- Core Retail Sales m/m
- New Home Sales
- Official Cash Rate
- RBNZ Rate Statement
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Editors’ Picks
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.