Chief currency strategist at DailyFX.com, John Kicklighter joins Merlin for a look at some of the events and data impacting currencies around the world. First comes the Euro, which has been flirting with a strong supply level, yet unable to break! John offers his thought on the ECB’s actions and why this is the line in the sand for the Euro. Later, the duo breaks down the current trajectory in the Pound and the Yen, both of which offer some great trading opportunities. Merlin also looks at some tools, such as the SSI, which helps traders understand where the money is flowing in a variety of instruments.
Editors’ Picks
EUR/USD extends slide below 1.1700
The EUR/USD pair nears its weekly low at around 1.1660 in the American session on Tuesday, retreating from the 1.1750 price zone tested earlier in the day. Cautiously optimistic markets support the US Dollar in the near term.
GBP/USD retreats from three-month-high, pierces 1.3500
GBP/USD extends its intraday slide and trades in the red just below 1.3500 after setting a new three-month-high near 1.3570. Ahead of this week's key employment data releases from the US, markets recover the good mood.
USD/JPY trades higher to near 156.50 while focus shifts to US NFP data
USD/JPY rises to near 156.50 as the US Dollar recovers its early losses. Investors await the US NFP data for fresh cues on the Fed’s monetary policy outlook. BoJ’s Ueda signals that there will be more interest rate hikes this year.
Editors’ Picks
EUR/USD extends slide below 1.1700
The EUR/USD pair nears its weekly low at around 1.1660 in the American session on Tuesday, retreating from the 1.1750 price zone tested earlier in the day. Cautiously optimistic markets support the US Dollar in the near term.
GBP/USD retreats from three-month-high, pierces 1.3500
GBP/USD extends its intraday slide and trades in the red just below 1.3500 after setting a new three-month-high near 1.3570. Ahead of this week's key employment data releases from the US, markets recover the good mood.
Gold extends its advance aims to recover hte $4,500 mark
Gold eases from the weekly high it set at $4,475 but clings to modest gains above $4,450 in the second half of the day on Tuesday. While a rebound in the US Dollar caps the yellow metal's upside, heightened political tensions allow XAU/USD to keep its footing.
Crypto Today: Bitcoin, Ethereum, XRP uptrend cools amid surging ETF inflows
Bitcoin is retracing toward support at $93,000 at the time of writing on Tuesday, after reaching a previous day’s high of $94,789. Ethereum and Ripple uptrend has cooled after several days of persistent gains, suggesting potential profit-taking.
Implications of US intervention in Venezuela
Events in Venezuela are top of mind for market participants, and while developments are associated with an elevated degree of uncertainty, we are not making any changes to our markets or economic forecasts as a result of the deposition of Nicolás Maduro.
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