Good morning. Hope all is well. We seem to have had a modest forecast for yesterday with a 71% accuracy on our predictions. As we had expected the Japanese Yen had weakened through the day. US Dollar had also weakened by a few points on our scale. British Pound, Canadian and US Dollar pairs are on our watch list today on account of the fundamental watch. Both Japanese Yen and US Dollar currencies could let out some steam today. Not adding 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 1.05692 and 1.06000.
Fundamental Watch
– Employment Change
– Unemployment Rate
– PPI m/m
– Prelim UoM Consumer Sentiment
– MPC Member Haldane Speaks
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Editors’ Picks
EUR/USD stays near 1.0800 after upbeat US data
EUR/USD stays under modest bearish pressure and trades near 1.0800 in the American session on Thursday. The data from the US showed that the real GDP growth for the fourth quarter got revised higher to 3.4% from 3.2%, supporting the USD and weighing on the pair.
GBP/USD stays in daily range above 1.2600
GBP/USD fluctuates in a narrow channel above 1.2600 on Thursday. The better-than-expected Initial Jobless Claims data from the US and the upward revision to the Q4 GDP growth helps the USD stay resilient against its rivals and limits the pair's upside.
Gold pulls away from daily highs, holds above $2,200
Gold retreats from daily highs but holds comfortably above $2,200 in the American session on Thursday. The benchmark 10-year US Treasury bond yield stays above 4.2% after upbeat US data and makes it difficult for XAU/USD to preserve its bullish momentum.
XRP price falls to $0.60 support as Ripple ruling doesn’t help Coinbase lawsuit against SEC
XRP programmatic sales ruling by Judge Torres was completely rejected by another US Court that ruled in favor of the SEC in a lawsuit against Coinbase.
Portfolio rebalancing and reflation trades emerge into Q2
Yesterday’s price action pointed at a possible end-of-quarter portfolio rebalancing as the session saw the laggards of the quarter like Apple and Tesla gain, and the stars like Microsoft and Nvidia retreat.