Good morning dear listeners! Today on Episode 407 your host Rob Booker Talks about the power of adding structure to your trading business. Be the boss. Be the owner of your trading business. There are wonderful ways to blend the use of robots and discretionary trading. Check it out and thanks for listening!
Editors’ Picks
EUR/USD stays well offered below 1.1800
The selling pressure on EUR/USD is picking up pace, with the pair slipping decisively below the key 1.1800 level and sliding to fresh two week lows as Wednesday’s session draws to a close. The move lower comes as the US Dollar finds renewed strength after the latest round of US data and the release of the FOMC Minutes. Next of note on the docket will be the US weekly Initial Jobless Claims.
GBP/USD extends decline as weak jobs data bolsters BoE rate cut bets
The Pound Sterling continued to backslide under sustained pressure on Wednesday, following through after the UK employment report on Tuesday showed a labour market deteriorating faster than expected.
USD/JPY bounces back as weak Japanese GDP and BoJ rate hike bets collide
USD/JPY bounced on Wednesday after the Japanese Yen's recent rally finally ran out of steam, which has been its best weekly performance since November 2024. Despite a growth miss in Japanese Gross Domestic Product figures earlier this week, Bank of Japan rate hike expectations remain firmly in place; former board member Adachi said an April move is likely, and the International Monetary Fund reiterated that Japan should continue normalizing policy.
Editors’ Picks
AUD/USD: Further weakness could retest 0.7000
AUD/USD resumes its decline, leaving behind two daily gains in a row and approaching the area of multi-day lows in the 0.7040-0.7030 band ahead of the opening bell in Asia. Moving forward, the Aussie is expected to remain under scrutiny in light of the publication of the jobs report in Australia.
USD/JPY bounces back as weak Japanese GDP and BoJ rate hike bets collide
USD/JPY bounced on Wednesday after the Japanese Yen's recent rally finally ran out of steam, which has been its best weekly performance since November 2024. Despite a growth miss in Japanese Gross Domestic Product figures earlier this week, Bank of Japan rate hike expectations remain firmly in place; former board member Adachi said an April move is likely, and the International Monetary Fund reiterated that Japan should continue normalizing policy.
Gold rises above $4,950 as US-Iran tensions boost safe-haven demand
Gold price holds positive ground near $4,985 during the early Asian session on Thursday. The precious metal recovers amid shifts in geopolitical sentiment, boosting safe-haven demand. Traders will keep an eye on the release of US Initial Jobless Claims, Pending Home Sales data, and the Fedspeak later on Thursday.
Australia unemployment rate set to edge up within overall strong labor market
The Australian monthly employment report is scheduled for release on Thursday at 00:30 GMT, and market participants anticipate a modest increase in jobs in January. The Australian Bureau of Statistics is expected to announce that the country added 20K new jobs in the month, while the Unemployment Rate is forecast at 4.2%, up from the 4.1% posted in December.
Mixed UK inflation data no gamechanger for the Bank of England
Food inflation plunged in January, but service sector price pressure is proving stickier. We continue to expect Bank of England rate cuts in March and June. The latest UK inflation read is a mixed bag for the Bank of England, but we doubt it drastically changes the odds of a March rate cut.
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