In the broadcast today: Will the JPY Finally Correct Its Losses? As Japan's economy minister warns about the effects of excessive yen weakness, we examine the oversold conditions in a number of JPY currency pairs and explore the potential for a significant price correction of the yen's losses against the USD and other major currencies, we analyze the latest trend developments in the USD/JPY currency pair, we note the EUR/USD pair's test of an important support level, we keep an eye on the GBP/USD currency pair following the U.K. inflation report, we highlight the market's reaction to the German GDP, the Euro-zone Trade Balance, the U.K. CPI, and the U.S. Retail Sales, we discuss new forecasts from JPMorgan Chase and Royal Bank of Scotland, and prepare for the trading session ahead.
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EUR/USD clings to gains above 1.0750 after US data
EUR/USD manages to hold in positive territory above 1.0750 despite retreating from the fresh multi-week high it set above 1.0800 earlier in the day. The US Dollar struggles to find demand following the weaker-than-expected NFP data.
GBP/USD declines below 1.2550 following NFP-inspired upsurge
GBP/USD struggles to preserve its bullish momentum and trades below 1.2550 in the American session. Earlier in the day, the disappointing April jobs report from the US triggered a USD selloff and allowed the pair to reach multi-week highs above 1.2600.
Gold struggles to hold above $2,300 despite falling US yields
Gold stays on the back foot below $2,300 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.6% after weak US data but the improving risk mood doesn't allow XAU/USD to gain traction.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.