Good morning. Hope all is well. We have had a really good forecast for yesterday with 6 out of the 7 pairs conforming to our predictions. As expected the US Dollar weakened by a point on our scale while Japanese Yen gained in strength by a point. For today we have many fundamental news items coming out that could affect currencies like the US Dollar, British Pound, Canadian and New Zealand Dollar pairs. With most emphasis on US Dollar as six of the news items are related to this currency. Both US Dollar and Japanese Yen could continue their weak and strong moved through the day. Not adding any hedged pairs to offset the risk. Happy Trading!
Forecasts Outlook
US Dollar: Weak
Today we're expecting the EURUSD to proceed Long above the barrier levels of 1.24820 and 1.25097.
Fundamental Watch
– Average Earnings Index 3m/y
– Claimant Count Change
– MPC Official Bank Rate Votes
– Wholesale Sales m/m
– CPI m/m
– Core CPI m/m
– FOMC Economic Projections
– FOMC Statement
– Federal Funds Rate
– FOMC Press Conference
– GDP q/q
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EUR/USD fluctuates in daily range above 1.0600
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GBP/USD stabilizes near 1.2450 ahead of Powell speech
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Gold retreats to $2,370 as US yields push higher
Gold stages a correction on Tuesday and fluctuates in negative territory near $2,370 following Monday's upsurge. The benchmark 10-year US Treasury bond yield continues to push higher above 4.6% and makes it difficult for XAU/USD to gain traction.
XRP struggles below $0.50 resistance as SEC vs. Ripple lawsuit likely to enter final pretrial conference
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US outperformance continues
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