There is no trade call for the session. There was no notable news during the Asia-Pacific session. USDJPY is down 160 pips from yesterday’s highs. The London session is also very light on data.
Watch the weekly risk events video here to learn more about upcoming releases of the week.
Current Sentiment:
Yesterday’s NY session saw a dovish Yellen; citing downside risks and lower inflation expectations. The USD sold off accordingly and dollar weakness is likely to remain in play heading into NFP. Yellen’s comments have neutralized hawkish comments from other Fed officials since the March meeting.Watch the weekly risk events video here to learn more about upcoming releases of the week.
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EUR/USD climbs to 10-day highs above 1.0700
EUR/USD gained traction and rose to its highest level in over a week above 1.0700 in the American session on Tuesday. The renewed US Dollar weakness following the disappointing PMI data helps the pair stretch higher.
GBP/USD extends recovery beyond 1.2400 on broad USD weakness
GBP/USD gathered bullish momentum and extended its daily rebound toward 1.2450 in the second half of the day. The US Dollar came under heavy selling pressure after weaker-than-forecast PMI data and fueled the pair's rally.
Gold struggles around $2,325 despite broad US Dollar’s weakness
Gold reversed its direction and rose to the $2,320 area, erasing a large portion of its daily losses in the process. The benchmark 10-year US Treasury bond yield stays in the red below 4.6% following the weak US PMI data and supports XAU/USD.
Here’s why Ondo price hit new ATH amid bearish market outlook Premium
Ondo price shows no signs of slowing down after setting up an all-time high (ATH) at $1.05 on March 31. This development is likely to be followed by a correction and ATH but not necessarily in that order.
Germany’s economic come back
Germany is the sick man of Europe no more. Thanks to its service sector, it now appears that it will exit recession, and the economic future could be bright. The PMI data for April surprised on the upside for Germany, led by the service sector.