Good morning. Hope all is well. We have had a really good forecast for yesterday with 6 out of the 7 pairs conforming to our predictions. As expected the US Dollar weakened by a point on our scale while Japanese Yen gained in strength by a point. For today we have many fundamental news items coming out that could affect currencies like the US Dollar, British Pound, Canadian and New Zealand Dollar pairs. With most emphasis on US Dollar as six of the news items are related to this currency. Both US Dollar and Japanese Yen could continue their weak and strong moved through the day. Not adding any hedged pairs to offset the risk. Happy Trading!
Forecasts Outlook
US Dollar: Weak
Today we're expecting the EURUSD to proceed Long above the barrier levels of 1.24820 and 1.25097.
Fundamental Watch
– Average Earnings Index 3m/y
– Claimant Count Change
– MPC Official Bank Rate Votes
– Wholesale Sales m/m
– CPI m/m
– Core CPI m/m
– FOMC Economic Projections
– FOMC Statement
– Federal Funds Rate
– FOMC Press Conference
– GDP q/q
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Gold advances for a third consecutive day
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Japan intervention: Will it work?
Dear Japan Intervenes in the Yen for the first time since November 2022 Will it work? Have we seen a top in USDJPY? Let's go through the charts.