AUD/USD bounces back from five-month lows

AUD/USD bounces back from five-month lows

AUD/USD ends its three-day decline on Wednesday, bouncing back from levels not seen since mid-November. Nevertheless, hawkish remarks from Federal Reserve officials and the influx of safe-haven flows could bolster the US Dollar and potentially limit the upside of pair in the short term.

AUD/USD News

USD/JPY trades with mild losses below 155.00 on risk-aversion

USD/JPY trades with mild losses below 155.00 on risk-aversion

USD/JPY trades with mild losses near 154.65 on Wednesday during the early Asian trading hours. The robust US economy and sticky inflation data have triggered the expectation that the Fed might delay the easing cycle to September from June, which provides some support to the US Dollar.

USD/JPY News

Gold ascends but remains shy of testing $2,400 amid hawkish Fed remarks

Gold ascends but remains shy of testing $2,400 amid hawkish Fed remarks

Gold prices edged higher late in North American session, gaining 0.22% following a hawkish tilt by Fed Chair Jerome Powell. Economic data from the United States was mixed, though Monday’s Retail Sales report and Powell’s remarks kept US Treasury yields higher, capping the yellow metal’s advance.

Gold News

Fetch.ai Price Prediction: FET must hold above $1.70 for strength

Fetch.ai Price Prediction: FET must hold above $1.70 for strength

Fetch.ai is trading with a bearish bias. It comes as chatter about the proposed integration with the Ocean Protocol and the SIngularityNET ecosystem remains fresh.

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UK CPI March Preview: Inflation pressures to dissipate further, adding to bets of BoE rate cuts

UK CPI March Preview: Inflation pressures to dissipate further, adding to bets of BoE rate cuts

The March UK CPI report will be released by the Office for National Statistics on Wednesday. United Kingdom’s headline and core annual inflation are set to ease in March. The UK CPI report could hint at the BoE’s interest rate cut, rocking the Pound Sterling.

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Cyclical outlook: Known unknowns

Cyclical outlook: Known unknowns

In the US, the latest Survey of Professional Forecasters (SPF) of the Federal Reserve Bank of Philadelphia paints a rather upbeat picture of the economic outlook. A similar survey of the ECB points towards a gradual pickup in growth this year. 

Building the future

Building the future

There is a construction boom underway that is quietly transforming the production capabilities and other aspects of the US economy. The fastest-growing category within nonresidential construction in recent years has been manufacturing.

Addressing the public debt challenge in the EU

Addressing the public debt challenge in the EU

Recently an agreement has been reached between representatives of the European Council, the European Parliament, and the European Commission on a new economic governance framework.

FXS Signals

Technical Confluences Detector

Gold pauses before the next push higher, Fedspeak awaited Premium

Gold pauses before the next push higher, Fedspeak awaited

Gold price is battling it out just below $2,400 early Wednesday after witnessing a muted close a day ago. Gold price makes another attempt to recapture the $2,400 level, as the US Dollar (USD) follows a minor pullback in the US Treasury bond yields, awaiting a fresh bunch of US Federal Reserve (Fed) speakers.

Geopolitical woes outweigh hawkish Fed’s Powell?

Even though Iran has repeatedly said that it seeks no further escalation of its conflict with Israel, the Western response to the Iranian attack remains a cause of concern for investors, as they keep the safe-haven demand underpinned for Gold price.

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CRYPTOCURRENCIES

Fetch.ai Price Prediction: FET must hold above $1.70 for strength

Fetch.ai Price Prediction: FET must hold above $1.70 for strength

Fetch.ai price has dropped nearly 45% since late March as broader markets started bleeding. FET bulls must defend $1.70 if they want to keep the upward thrust alive, signaling strength on the AI coin. A break and close below $1.59 would mean a lower low, invalidating the bullish reversal thesis.

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OKX executives depart from exchange while its XLayer Chain goes live

OKX executives depart from exchange while its XLayer Chain goes live

Two senior executives at crypto exchange OKX, Tim Byun and Wei Lan, have left the company after years of heading key roles, according to a CoinDesk source. However, the company is making expansion moves through the launch of its own Layer 2 (L2) chain.

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Traders eyeing long positions could have their rally soon as funding rates flip negative

Traders eyeing long positions could have their rally soon as funding rates flip negative

Bitcoin (BTC) price remains on a load-shedding exercise, a sentiment that has spilled over to the broader market. Nevertheless, the bleed seen across the cryptocurrency market could end soon amid possible shifting market sentiment.

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Prisma Finance hacker could be uncovered after investigations by on-chain analyst

Prisma Finance hacker could be uncovered after investigations by on-chain analyst

On March 28, DeFi protocol Prisma Finance suffered an attack on one of its smart contracts, resulting in a loss of 3257 ETH worth $11.1 million. Prisma Finance immediately halted its protocol after the hack, ordering users to revoke access to the smart contract.

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THE STOCK OF THE DAY

DJT loses grip as dilution comes back in focus Premium

DJT loses grip as dilution comes back in focus

Trump Media & Technology Group (DJT), the social media platform owned by former president and current presidential candidate Donald Trump, sank precipitously on Monday in a sign that retail sentiment regarding the meme stock may be short-lived. 

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WEEKLY FORECAST

EUR/USD: The return of King Dollar Premium

EUR/USD: The return of King Dollar

The USD soared this week, sending EUR/USD to its lowest since November. Hotter-than-anticipated inflation in the United States (US) was the main reason behind the renewed strength of the USD, although it was not the only one.

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GBP/USD: Pound Sterling extends losses on mounting geopolitical tensions, BoE-Fed divergence Premium

GBP/USD: Pound Sterling extends losses on mounting geopolitical tensions, BoE-Fed divergence

The Pound Sterling (GBP) resumed its downside against the US Dollar (USD), sending the GBP/USD pair to the lowest level in four months below 1.2500.

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US Dollar: Touching five-month highs as Fed rate cuts are likely to be delayed again Premium

US Dollar: Touching five-month highs as Fed rate cuts are likely to be delayed again

The Greenback advanced for the third consecutive session on Friday, taking the USD Index (DXY) just beyond the 106.00 barrier, an area last traded in early November.

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Gold: XAU/USD pays no mind to USD rally, sets historic highs Premium

Gold: XAU/USD pays no mind to USD rally, sets historic highs

Gold price (XAU/USD) looked like it was on the verge of a deep correction on Wednesday but it gathered bullish momentum in the second half of the week, advancing to a fresh all-time high above $2,400. 

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Bitcoin: BTC’s rangebound movement leaves traders confused

Bitcoin: BTC’s rangebound movement leaves traders confused

Bitcoin (BTC) price has been hovering around the $70,000 psychological level for a few weeks, resulting in a rangebound movement. This development could lead to a massive liquidation on either side before a directional move is established. 

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Week ahead – More inflation data on the way as rate cut bets thrown into disarray

Week ahead – More inflation data on the way as rate cut bets thrown into disarray

CPI numbers due in the UK, Japan, Canada and New Zealand. China to also come into the spotlight as Q1 GDP eyed. US retail sales to kickstart the week as earnings season gets underway.

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