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 on our predictions. The US Dollar did strengthen slightly as expected, while Japanese Yen instead of weakening gathered some steam. Japanese Yen, British Pound, Canadian and US Dollar pairs are on our watch list today on account of the fundamental watch. Going to take a mixed stance on both US Dollar and Japanese Yen. Adding one hedged pair 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 1.11501 and 1.11206.
Fundamental Watch
– Prelim GDP q/q
– MPC Official Bank Rate Votes
– Wholesale Sales m/m
– FOMC Meeting Minutes
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Editors’ Picks
EUR/USD holds gains near 1.0650 amid risk reset
EUR/USD is holding onto its recovery mode near 1.0650 in European trading on Friday. A recovery in risk sentiment is helping the pair, as the safe-haven US Dollar pares gains. Earlier today, reports of an Israeli strike inside Iran spooked markets.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD is rebounding toward 1.2450 in early Europe on Friday, having tested 1.2400 after the UK Retail Sales volumes stagnated again in March, The pair recovers in tandem with risk sentiment, as traders take account of the likely Israel's missile strikes on Iran.
Gold price defends gains below $2,400 as geopolitical risks linger
Gold price is trading below $2,400 in European trading on Friday, holding its retreat from a fresh five-day high of $2,418. Despite the pullback, Gold price remains on track to book the fifth weekly gain in a row, supported by lingering Middle East geopolitical risks.
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.
Geopolitics once again take centre stage, as UK Retail Sales wither
Nearly a week to the day when Iran sent drones and missiles into Israel, Israel has retaliated and sent a missile into Iran. The initial reports caused a large uptick in the oil price.