Good morning. Hope all is well! We seem to have had a really good forecast for yesterday with an 86% accuracy. Except for EURUSD all the other pairs were in our favour. Could be in for a busy day today with many fundamental items coming out that could affect many major currencies. British Pound, Canadian Dollar, Euro and the two Oceanic pairs are on our watch list. US Dollar could let out some steam together with Japanese Yen through the course of the day. Adding two 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 1.11758 and 1.12059.
Fundamental Watch
– Building Approvals m/m
– Cash Rate
– RBA Rate Statement
– Spanish Unemployment Change
– Construction PMI
– BOE Gov Carney Speaks
– GDP m/m
– GDT Price Index
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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.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
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.