Matt Simpson, CFTe, MSTA
CityIndex
Draghi took all of the attention yesterday to see EURUSD down to 5-week lows and EURJPY roll over at 4-week highs
Mario Draghi pushed the Euro to a month low against the Greenback following his Dovish comments yesterday, seeing peripheral Eurozone government bonds higher.
EUR retail sales came in at 0.4% vs -0.3% expected
Poor data from the US included ISM Non-Manufacturing PMI at 53.1 vs 53.5 expected, along with an increase in unemployment claims.
FOREX:
AUDUSD Remains above 0.920 forming potential base leading into NFP
EURUSD Marginally holds above 1.370 - a break below opens up 1.3650
GBPUSD Bearish outside day and at 6-day low
USDCAD Continues to rest above 1.10 - this is a key pair in tonight's NFP
USDCHF 2nd bullish close and at 5-week highs
USDJPY Shooting Star Reversal; holds above 103.80 support;
NZDUSD Eroded all of last week's gains; A weekly close at current levels would produce a Dark Cloud Cover
DXY Broke above 80.50 resistance and reached bullish wedge target
INDICES:
NASDAQ Hanging Man with long bearish body suggests near-term weakness
S&P/DJI Doji forms at record highs
COMMODITIES:
Gold
Silver
Copper
WTI
Brent
CFD and forex trading are leveraged products and can result in losses that exceed your deposits. They may not be suitable for everyone. Ensure you fully understand the risks. From time to time, City Index Limited’s (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material. As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed
Recommended Content
Editors’ Picks
AUD/USD stands firm above 0.6500 with markets bracing for Aussie PPI, US inflation
The Aussie Dollar begins Friday’s Asian session on the right foot against the Greenback after posting gains of 0.33% on Thursday. The AUD/USD advance was sponsored by a United States report showing the economy is growing below estimates while inflation picked up. The pair traded at 0.6518.
EUR/USD mired near 1.0730 after choppy Thursday market session
EUR/USD whipsawed somewhat on Thursday, and the pair is heading into Friday's early session near 1.0730 after a back-and-forth session and complicated US data that vexed rate cut hopes.
Gold soars as US economic woes and inflation fears grip investors
Gold prices advanced modestly during Thursday’s North American session, gaining more than 0.5% following the release of crucial economic data from the United States. GDP figures for the first quarter of 2024 missed estimates, increasing speculation that the US Fed could lower borrowing costs.
Ethereum could remain inside key range as Consensys sues SEC over ETH security status
Ethereum appears to have returned to its consolidating move on Thursday, canceling rally expectations. This comes after Consensys filed a lawsuit against the US SEC and insider sources informing Reuters of the unlikelihood of a spot ETH ETF approval in May.
Bank of Japan expected to keep interest rates on hold after landmark hike
The Bank of Japan is set to leave its short-term rate target unchanged in the range between 0% and 0.1% on Friday, following the conclusion of its two-day monetary policy review meeting for April. The BoJ will announce its decision on Friday at around 3:00 GMT.