Good morning. Hope all is well, we have come to an end of the month and we have had a good one indeed. Our previous forecast was a favourable one with 5 out of the 7 pairs conforming to our forecast, specially EURUSD, USDCHF, NZDUSD and EURJPY. As we had thought Japanese Yen had weakened, however the US Dollar ended up strengthening overall. The pairs to keep an eye on today would be Euro, Canadian, Australian, US and Japanese Yen. Through the course of the day we could be looking at a weak US Dollar and Strong Japanese Yen. Not adding hedged pairs to offset the trading risk. Happy Trading!
Forecasts Outlook
US Dollar: Weak
Today we're expecting the EURUSD to proceed Long above the barrier levels of 1.33894 and 1.33590.
Fundamental Watch
- CPI Flash Estimate y/y
- GDP m/m
- Unemployment Claims
- Manufacturing PMI
- PPI q/q
- HSBC Final Manufacturing PMI
- BOJ Gov Kuroda Speaks
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Editors’ Picks
EUR/USD holds gains above 1.0700 as USD struggles ahead of data
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GBP/USD stays firm above 1.2500 amid US Dollar weakness
GBP/USD is consolidating the rebound above 1.2500 in European trading on Thursday. The pair's uptick is supported by a broadly weakness US Dollar on dovish Fed signals. A mixed market mood could cap the GBP/USD upside ahead of mid-tier US data.
Gold price trades with modest losses amid positive risk tone, downside seems limited
Gold price edges lower amid an uptick in the US bond yields, though the downside seems cushioned. A positive risk tone is seen as another factor undermining demand for the safe-haven precious metal.
Top 3 Price Prediction BTC, ETH, XRP: Altcoins to pump once BTC bottoms out, slow grind up for now
Bitcoin reclaiming above $59,200 would hint that BTC has already bottomed out, setting the tone for a run north. Ethereum holding above $2,900 keeps a bullish reversal pattern viable despite falling momentum. Ripple coils up for a move north as XRP bulls defend $0.5000.
Happy Apple day
Apple is due to report Q1 results today after the bell. Expectations are soft given that Apple’s Chinese business got a major hit in Q1 as competitors increased their market share against the giant Apple.