Good morning. Hope all is well. We seem to have had a bit of a turmoil on our forecast for yesterday with only a 43% accuracy. Japanese Yen instead of weakening as we had thought ended up gaining in strength. Today we have three major currencies affected by our fundamental watch. US Dollar, Euro and New Zealand Dollar are on our watch list. Through the course of the day we could be in for a strong US Dollar while Japanese Yen may sideline. Not adding any hedged pairs to offset the risk. Happy Trading!
Forecasts Outlook
US Dollar: Strong
Today we're expecting the EURUSD to proceed Short below the barrier levels of 1.14491 and 1.14202.
Fundamental Watch
– FOMC Meeting Minutes
– PPI Input q/q
– ECB Monetary Policy Meeting Accounts
– Unemployment Claims
– Philly Fed Manufacturing Index
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Editors’ Picks
AUD/USD holds above 0.6500 in thin trading
The Australian Dollar managed to recover ground against its American rival after AUD/USD fell to 0.6484. The upbeat tone of Wall Street underpinned the Aussie despite broad US Dollar strength and tepid Australian data.
EUR/USD comfortable below 1.0800 lower lows at sight
The EUR/USD pair lost ground on Thursday and settled near a fresh March low of 1.0774. Strong US data and hawkish Fed speakers comments lead the way ahead of the release of the US PCE Price Index on Friday.
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 near 4.2% after upbeat US data and makes it difficult for XAU/USD to gather further bullish momentum.
Google starts indexing Bitcoin addresses
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A Hollywood ending for fourth quarter GDP
The latest revisions put Q4 GDP at 3.4%, the second fastest quarterly growth rate in two years. Much of the upside was attributable to stronger consumer spending, yet fresh profits data affirmed it was a good quarter for the bottom line as well with profits up by the most since the Q2-2022.