Good morning. Hope all is well! We have had a good forecast for yesterday with 6 out of the 7 pairs conforming to our forecasts. The US Dollar actually ended up weakening by a few points while Japanese Yen has had a sidelined day. Would be good to keep a close eye on Euro, US and Australian Dollar pairs due to our fundamental watch. We could be looking at another strong day for the US and Japanese Yen could also gather some steam. Adding one hedged pair to offset the trading risk. Happy Trading!
Forecasts Outlook
US Dollar: Strong
Today we're expecting the EURUSD to proceed Short below the barrier levels of 1.28540 and 1.28842.
Fundamental Watch
– German Ifo Business Climate
– New Home Sales
– RBA Gov Stevens 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.
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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.