Good morning. Hope all is well! We have had a good forecast for yesterday with 5 out of the 7 pairs conforming to our predictions. Specially on EURUSD and USDCHF we were very close. The Japanese Yen was sidelined while the US Dollar gained in strength by a point on our scale. British Pound, US Dollar and the two Oceanic currencies are on our watchlist today due to the fundamental watch. For today we could be looking at a Strong US Dollar while the Jen may let out some steam. Adding one hedged pair 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 1.26560 and 1.26256.
Fundamental Watch
– Manufacturing PMI
– ADP Non-Farm Employment Change
– ISM Manufacturing PMI
– GDT Price Index
– Building Approvals m/m
– Trade Balance
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Editors’ Picks
EUR/USD hovers near 1.0700 ahead of US data
EUR/USD struggles to build on Wednesday's gains and fluctuates in a tight channel near 1.0700 on Thursday. The US Dollar holds its ground following the Fed-inspired decline as market focus shifts to mid-tier US data releases.
GBP/USD holds steady above 1.2500 following Wednesday's rebound
GBP/USD stays in a consolidation phase slightly above 1.2500 on Thursday after closing in the green on Wednesday. A mixed market mood caps the GBP/USD upside ahead of Unit Labor Costs and Jobless Claims data from the US.
Gold retreats to $2,300 despite falling US yields
Gold stays under bearish pressure and trades deep in negative territory at around $2,300 on Thursday. The benchmark 10-year US Treasury bond edges lower following the Fed's policy decisions but XAU/USD struggles to find a foothold.
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.