EUR/USD jumps above 1.0700 as risk rebounds ahead of US data

EUR/USD jumps above 1.0700 as risk rebounds ahead of US data

EUR/USD is advancing above 1.0700 amid a sudden positive shift in risk sentiment after Bloomberg reported that the EU is working on a gas deal with Egypt, Israel to shore up supplies. The safe-haven dollar wilts amid risk-on flows, ahead of US GDP. 

EUR/USD News

GBP/USD recaptures 1.2600, UK house hold support plan awaited

GBP/USD recaptures 1.2600, UK house hold support plan awaited

GBP/USD is trading above 1.2600, staging a solid comeback in anticipation of the UK's new package of financial support for households. The return of risk-on flows in the market is weighing negatively on the US dollar ahead of key data. 

GBP/USD News

Gold bears eye $1,838 and $1,836 as next downside targets

Gold bears eye $1,838 and $1,836 as next downside targets

Gold Price is feeling the pull of gravity after less hawkish FOMC minutes released on Wednesday offered a brief reprieve to XAU bulls. Gold is extending the retreat from two-week highs of $1,870, as the US dollar clings onto minor recovery gains amid a cautious risk environment.

Gold News

Here’s the list of crypto exchanges that will support Terra’s LUNA hard fork

Here’s the list of crypto exchanges that will support Terra’s LUNA hard fork

Cryptocurrency exchanges are on board Terra’s LUNA hard fork and Do Kwon’s plan for the Terraform Labs token’s rebirth. Do Kwon has garnered support from leading cryptocurrency exchanges for the new Terra chain. 

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FOMC Minutes settle nerves

FOMC Minutes settle nerves

The FOMC Minutes settled a few nerves temporarily, signalling another couple of 50bps rate hikes in June and July before a pause in September. 

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DEEPER DIVE

Dollar weakness stands on two vulnerable legs, Fed fear set to trigger greenback comeback Premium

Dollar weakness stands on two vulnerable legs, Fed fear set to trigger greenback comeback

Shanghai's "freedom day" and JP Morgan's optimism have sparked a relief rally, adverse for the dollar. US data and tough Fed talk on inflation could trigger fresh demand for the greenback. 

Where is the bottom for EUR/USD and GBP/USD? Four factors traders need to consider Premium

Where is the bottom for EUR/USD and GBP/USD? Four factors traders need to consider

EUR/USD and GBP/USD are set to extend their declines – and for good reasons. Where is the bottom? The low point for these currency pairs heavily depends on the Fed and the main question is: when will the dollar reach a top?

Three oversold cryptos that could double your portfolio

Three oversold cryptos that could double your portfolio

A brief technical and on-chain analysis on a few cryptos. Which are the massively oversold coins at this moment? How you could benefit from the crypto bloodbath? Here, FXStreet’s analysts evaluate where some of the hottest cryptos on the market could go next.

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Technical Confluences Detector

Dhwani Mehta

Gold Price is feeling the pull of gravity after less hawkish FOMC minutes released on Wednesday offered a brief reprieve to XAU bulls. The bright metal is extending the retreat from two-week highs of $1,870, as the US dollar clings onto minor recovery gains amid a cautious risk environment. The precious metal, however, seems to find some comfort from falling Treasury yields, as investors digest the latest Fed minutes, which squashed hopes for a more than 50 bps rate hike in the coming months.

Gold Price: Key levels to watch

The Technical Confluences Detector shows that the Gold Price is facing a wall of powerful resistance levels, as it attempts a minor comeback.

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CRYPTOCURRENCIES

Here’s the list of crypto exchanges that will support Terra’s LUNA hard fork

Here’s the list of crypto exchanges that will support Terra’s LUNA hard fork

Cryptocurrency exchanges are on board Terra’s LUNA hard fork and Do Kwon’s plan for the Terraform Labs token’s rebirth. Do Kwon has garnered support from leading cryptocurrency exchanges for the new Terra chain. 

More Terra News

Breaking: Ethereum breaks below $1,900 as selling pressure accelerates

Breaking: Ethereum breaks below $1,900 as selling pressure accelerates

Ethereum dipped below the $1,900 support level over the past few hours. A decisive close below such a vital demand zone will put ETH at risk of a 38% correction toward $1,200. 

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A big price move is coming for Binance Coin; here’s what to look out for

A big price move is coming for Binance Coin; here’s what to look out for

A brief technical and on-chain analysis on Binance Coin price. Here, FXStreet's analysts evaluate where BNB could be heading next. 

More Binance Coin News

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Cryptos Ready - set - RALLY!

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Cryptos Ready - set - RALLY!

Bitcoin price, Ethereum and other cryptocurrencies are stabilising after the cryptocurrency space got slaughtered last week and two weeks ago.

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THE STOCK OF THE DAY

With China in danger of recession, all eyes on Thursday's BABA earnings for clues

With China in danger of recession, all eyes on Thursday's BABA earnings for clues

Alibaba (BABA stock) dropped 5.5% to $82.47 on Tuesday along with the broad downturn in growth stocks. The Nasdaq dropped 2.4% despite clawing back substantial ground as it spent the early part of the session down more than 3.3%. That was not BABA's only reason for decline however.

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WEEKLY FORECAST

EUR/USD: Interim bottom or dead cat bounce? Premium

EUR/USD: Interim bottom or dead cat bounce?

The EUR/USD closed the week with solid gains just below the 1.0600 level. The main reason behind the advance was the dollar’s broad weakness, despite the persistent risk-averse sentiment.

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GBP/USD: Will the recovery sustain above 21 DMA? Premium

GBP/USD: Will the recovery sustain above 21 DMA?

GBP/USD registered the first weekly gain in five weeks. Bulls were finally rescued, as GBP/USD stalled its four-week downtrend and rebounded firmly from two-year lows of 1.2155 reached a week ago.

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USD/JPY: Will the turn become a plunge? Premium

USD/JPY: Will the turn become a plunge?

After two months of unsurpassed weakness the Japanese yen has been lifted from its 20-year floor by a combination of economic, fundamental and technical factors that could herald a change in circumstances. 

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AUD/USD: Interim top confirmed, 0.7000 at risk Premium

AUD/USD: Interim top confirmed, 0.7000 at risk

The AUD/USD pair kept falling in the last few days, reaching a fresh multi-week low of 0.7263 on Friday, to close the trading week a handful of pips above it. 

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Bitcoin: The last rebound before capitulation

Bitcoin: The last rebound before capitulation

Bitcoin is showing bullish signs in the lower time frames, which can be taken advantage of by traders in the next couple of days. But looking at BTC from the higher time frames suggests that the bottom is not in yet.

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Gold: XAU/USD starts reacting to US yields but bulls remain hesitant Premium

Gold: XAU/USD starts reacting to US yields but bulls remain hesitant

Gold reversed its direction following a drop below $1,800 at the beginning of the week and ended up snapping a 4-week losing streak. Technical indicators suggest that XAU/USD could find it difficult to continue to push higher.

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