Good morning. Hope all is well! Our forecast for yesterday is a bit off with only a 43% accuracy. As we had expected the Japanese Yen had gained significant steam while the US Dollar was more sidelined than weakening. British Pound, Australian and US Dollar pairs are on our watch list for today due to fundamentals. Both Japanese Yen and US Dollar may sidelined through the day. Adding three hedged pairs to offset the risk. Happy Trading!
Forecasts Outlook
US Dollar: Mixed Sentiments
Today we're expecting the EURUSD to proceed Short below the barrier levels of 1.13301 and 1.13007.
Fundamental Watch
– Construction PMI
– ADP Non-Farm Employment Change
– Retail Sales m/m
– Trade Balance
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Editors’ Picks
USD/JPY holds positive ground around 151.50 following Japanese CPI data
The USD/JPY pair holds positive ground for the second consecutive day near 151.45 on Friday during the early Asian trading hours. The cautious approach from the Bank of Japan to keep monetary conditions accommodative exerts some selling pressure on the Japanese Yen.
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.
Gold price finishes Thursday’s session set to reach new all-time highs
Gold price rallied during the North American session on Thursday and hit a new all-time high of $2,225 in the mid-North American session. Precious metal prices are trending higher even though US Treasury yields are advancing, underpinning the Greenback.
Top 3 Price Prediction BTC, ETH, XRP: Retail watches from the sidelines with a bias for shorts
Bitcoin is showing strength as markets head into the Easter holidays. As it rises, altcoins are following suit, with Ethereum and Ripple posting almost similar gains. Meanwhile, there remains an unfilled CME Gap, with a lot of liquidity also resting above and below BTC price.
Bears have been standing before a steamroller so far this year
Despite a pushback on rate cuts from Christopher Waller, and what was supposed to be cautious trading sentiment ahead of critical US inflation data released later on Friday, the S&P 500 rose on Thursday, marking its best first-quarter performance in five years.