Good morning. Hope all is well! We have had an average forecast for yesterday with a 57% accuracy on our predictions. We did take a mixed stance for the day. The US Dollar was sidelined through the day while Japanese Yen gathered a little steam. We have some European news coming out for today that could affect the Euro and British Pound. Going to take a mixed stance for today also as we are unable to see a clear direction. 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 1.13204 and 1.13502.
Fundamental Watch
– CPI y/y
– German ZEW Economic Sentiment
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Editors’ Picks
EUR/USD holds above 1.0650 after US data
EUR/USD retreats from session highs but manages to hold above 1.0650 in the early American session. Upbeat macroeconomic data releases from the US helps the US Dollar find a foothold and limits the pair's upside.
GBP/USD retreats toward 1.2450 on modest USD rebound
GBP/USD edges lower in the second half of the day and trades at around 1.2450. Better-than-expected Jobless Claims and Philadelphia Fed Manufacturing Index data from the US provides a support to the USD and forces the pair to stay on the back foot.
Gold is closely monitoring geopolitics
Gold trades in positive territory above $2,380 on Thursday. Although the benchmark 10-year US Treasury bond yield holds steady following upbeat US data, XAU/USD continues to stretch higher on growing fears over a deepening conflict in the Middle East.
Ripple faces significant correction as former SEC litigator says lawsuit could make it to Supreme Court
Ripple (XRP) price hovers below the key $0.50 level on Thursday after failing at another attempt to break and close above the resistance for the fourth day in a row.
Have we seen the extent of the Fed rate repricing?
Markets have been mostly consolidating recent moves into Thursday. We’ve seen some profit taking on Dollar longs and renewed demand for US equities into the dip. Whether or not this holds up is a completely different story.