Good morning. Hope all is well! We seem to have had a good forecast for yesterday with a 71% accuracy. US Dollar was sidelined while Japanese Yen had weakened. British Pound, Canadian Dollar pairs are on our watch list today on account of the fundamental watch. Both Japanese Yen and US Dollar pairs are proving a bit hard to read. Adding three hedged pairs to offset the risk. Happy Trading!
Forecasts Outlook
US Dollar: Mixed Sentiments
Today we're expecting the EURUSD to proceed Long above the barrier levels of 1.06500 and 1.06825.
Fundamental Watch
– Manufacturing Production m/m
– Employment Change
– Unemployment Rate
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USD/JPY refreshes 34-year high, attacks 155.00 as intervention risks loom
USD/JPY is renewing a multi-decade high, closing in on 155.00. Traders turn cautious on heightened risks of Japan's FX intervention. Broad US Dollar rebound aids the upside in the major. US Durable Goods data are next on tap.
Gold stays in consolidation above $2,300
Gold finds it difficult to stage a rebound midweek following Monday's sharp decline but manages to hold above $2,300. The benchmark 10-year US Treasury bond yield stays in the green above 4.6% after US data, not allowing the pair to turn north.
Worldcoin looks set for comeback despite Nvidia’s 22% crash Premium
Worldcoin price is in a better position than last week's and shows signs of a potential comeback. This development occurs amid the sharp decline in the valuation of the popular GPU manufacturer Nvidia.
Three fundamentals for the week: US GDP, BoJ and the Fed's favorite inflation gauge stand out Premium
While it is hard to predict when geopolitical news erupts, the level of tension is lower – allowing for key data to have its say. This week's US figures are set to shape the Federal Reserve's decision next week – and the Bank of Japan may struggle to halt the Yen's deterioration.