Since the momentous day last Thursday FX markets are beginning to jockey positions for the next inflection point which is the Fed  decision next Wednesday. Dale believes that should the dollar strengthen into that event it will be a buying opportunity in the Euro as the first wave was impulsive in nature. USDCAD is showing glaring weekly divergences and will be a shorting candidate in the 1.37 to 1.38 range


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EUR/USD eases to near 1.0700 ahead of German inflation data

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EUR/USD is paring gains to near 1.0700 in the European session on Monday. The pair stays supported by a softer US Dollar, courtesy of the USD/JPY sell-off and a risk-friendly market environment. Germany's inflation data is next in focus. 

EUR/USD News

USD/JPY recovers after testing 154.50 on likely Japanese intervention

USD/JPY recovers after testing 154.50 on likely Japanese intervention

USD/JPY is recovering ground after sliding to 154.50 on what seemed like a Japanese FX intervention. The Yen tumbled in early trades amid news that Japan's PM lost 3 key seats in the by-election. Focus shifts to the US employment data and the Fed decision later this week. 

USD/JPY News

Gold price holds steady above $2,335, bulls seem reluctant amid reduced Fed rate cut bets

Gold price holds steady above $2,335, bulls seem reluctant amid reduced Fed rate cut bets

Gold price (XAU/USD) attracts some buyers near the $2,320 area and turns positive for the third successive day on Monday, albeit the intraday uptick lacks bullish conviction.

Gold News

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Ripple loses all gains from the past seven days, trading at $0.50 early on Monday. XRP holders have their eyes peeled for the Securities and Exchange Commission filing of opposition brief to Ripple’s motion to strike expert testimony.

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Week ahead: FOMC and jobs data in sight

Week ahead: FOMC and jobs data in sight

May kicks off with the Federal Open Market Committee meeting and will be one to watch, scheduled to make the airwaves on Wednesday. It’s pretty much a sealed deal for a no-change decision at this week’s meeting.

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