The currency market remains driven by the Fed’s rate hike expectations: last week’s data disappointed, pulling the US dollar down. April retail sales data came out flat, while the PPI index fell by 0.4%. We see that the economy remains weak at the beginning of the second quarter. As a result, rate hike expectations switched to the end of the year 2015.
On the new week, the market will be waiting for the FOMC meeting minutes on Wednesday. You should also pay attention to the Philly Fed Manufacturing Index and April consumer price index later in the week. Inflation expectations driven by higher energy prices are now at their highest level since October, so the US currency could get some support from this angle.
On the new week, the market will be waiting for the FOMC meeting minutes on Wednesday. You should also pay attention to the Philly Fed Manufacturing Index and April consumer price index later in the week. Inflation expectations driven by higher energy prices are now at their highest level since October, so the US currency could get some support from this angle.
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GBP/USD bulls retain control near 1.3300 mark, highest since March 2022
The GBP/USD pair trades with a positive bias for the third straight day on Friday and hovers around the 1.3300 mark during the Asian session, just below its highest level since March 2022 touched the previous day.
EUR/USD grapples with higher ground as Fed cuts weigh on Greenback
EUR/USD found the high end on Thursday, holding fast to the 1.1150 level, though most of the pair’s bullish momentum comes from a broad-market selloff in the Greenback rather than any particular bullish fix in the Euro.
Gold consolidates weekly gains, with sight on $2,600 and beyond
Gold price is looking to build on the previous day’s rebound early Friday, consolidating weekly gains amid the overnight weakness in the US Dollar alongside the US Treasury bond yields. Traders now await the speeches from US Federal Reserve monetary policymakers for fresh hints on the central bank’s path forward on interest rates.
Shiba Inu is poised for a rally as price action and on-chain metrics signal bullish momentum
Shiba Inu remains strong on Friday after breaking above a symmetrical triangle pattern on Thursday. This breakout signals bullish momentum, further bolstered by a rise in daily new transactions that suggests a potential rally in the coming days.
Bank of Japan set to keep rates on hold after July’s hike shocked markets
The Bank of Japan is expected to keep its short-term interest rate target between 0.15% and 0.25% on Friday, following the conclusion of its two-day monetary policy review. The decision is set to be announced during the early Asian session.
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