EUR/USD - 1.0567
Although euro's strong rise to as high as 1.0601 last Thursday and yesterday's rally above there to 1.0605 in New York on selloff in USD after Fed Powell's less hawkish comments suggests further choppy trading above May's 5-year bottom at 1.0350 would continue with mild upside bias and gain towards 1.0642 may be seen later.
On the downside, only daily close below 1.0511 (New York low) signals a temporary top is made and head back towards 1.0470.
Data to be released on Wednesday
New Zealand Westpac consumer survey, imports, exports, trade balance, Australia Westpac leading index.
U.K. CPI, RPI, PPI input prices, PPI output prices, DCLG house price index.
US mortgage application, redbook, Canada CPI and EU consumer confidence.
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Editors’ Picks
EUR/USD holds above 1.0650 after US data
EUR/USD retreats from session highs but manages to hold above 1.0650 in the early American session. Upbeat macroeconomic data releases from the US helps the US Dollar find a foothold and limits the pair's upside.
GBP/USD retreats toward 1.2450 on modest USD rebound
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Gold is closely monitoring geopolitics
Gold trades in positive territory above $2,380 on Thursday. Although the benchmark 10-year US Treasury bond yield holds steady following upbeat US data, XAU/USD continues to stretch higher on growing fears over a deepening conflict in the Middle East.
Ripple faces significant correction as former SEC litigator says lawsuit could make it to Supreme Court
Ripple (XRP) price hovers below the key $0.50 level on Thursday after failing at another attempt to break and close above the resistance for the fourth day in a row.
Have we seen the extent of the Fed rate repricing?
Markets have been mostly consolidating recent moves into Thursday. We’ve seen some profit taking on Dollar longs and renewed demand for US equities into the dip. Whether or not this holds up is a completely different story.