Good morning. Hope everyone had a good week end. Our previous forecast seems to have been a good one with majority of the pairs conforming to our predictions, specially GBPUSD, USDCAD, AUDUSD and EURJPY. The currencies to keep an eye on for today would be Euro, Australian Dollar and Japanese Yen due to our fundamental watch. Overall for today we could be looking at a strong US Dollar and Japanese Yen. Adding one hedged pairs to offset the trading risk. Happy Trading!
Forecasts Outlook
US Dollar: Strong
Today we're expecting the EURUSD to proceed Short below the barrier levels of 1.36005 and 1.36328.
Fundamental Watch
- ECB President Draghi Speaks
- Monetary Policy Meeting Minutes
- Monetary Policy Statement
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Editors’ Picks
EUR/USD retreats to 1.0700 after US data
EUR/USD lost its traction and turned negative on the day near 1.0700 in the American session on Tuesday. The data from the US showed that Employment Cost Index rose more than expected in Q1 and provided a boost to the USD.
GBP/USD declines toward 1.2500 on renewed USD strength
GBP/USD turned south and dropped toward 1.2500 in the second half of the day. The US Dollar gathers strength following the strong wage inflation data, forcing the pair to stay on the back foot.
Gold extends daily slide toward $2,300 after US data
Gold stays under bearish pressure and declines toward $2,300 on Tuesday. The benchmark 10-year US Treasury bond yield stays in positive territory above 4.6% after US Employment Cost Index data, weighing on XAU/USD.
XRP hovers above $0.51 as Ripple motion to strike new expert materials receives SEC response
Ripple (XRP) trades broadly sideways on Tuesday after closing above $0.51 on Monday as the payment firm’s legal battle against the US Securities and Exchange Commission (SEC) persists.
Eurozone inflation stable as the outlook on prices gets increasingly muddied
Eurozone headline inflation remains stable at 2.4%. With higher energy prices and improving domestic demand, questions about the direction of inflation become louder.