Good morning. Hope all is well. We seem to have had a good forecast for yesterday with a 71% accuracy on our predictions. Both Japanese Yen and US Dollar currencies have let out a lot of steam through the course of yesterday. Today we are going to keep a close eye on US Dollar, New Zealand Dollar, Swiss Franc and Euro pairs as there are many fundamental news items coming out that could affect these markets. Could see a weak US Dollar and Japanese Yen through today. 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 1.06571 and 1.07908.
Fundamental Watch
– FOMC Economic Projections
– FOMC Statement
– Federal Funds Rate
– FOMC Press Conference
– GDP q/q
– Libor Rate
– SNB Monetary Policy Assessment
– SNB Press Conference
– EU Economic Summit
– Targeted LTRO
– Unemployment Claims
– Philly Fed Manufacturing Index
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Editors’ Picks
AUD/USD remains firm above 0.6600 ahead of RBA
AUD/USD maintains its bullish bias well and sound on Monday, extending the multi-session recovery past the 0.6600 barrier ahead of the key interest rate decision by the RBA.
EUR/USD propped up near 1.0750 ahead of European Retail Sales
EUR/USD churned around 1.0770 to kick off the new trading week, with the pair rising after better-than-expected Purchasing Managers Index figures early Monday before settling into familiar chart territory above 1.0750 ahead of Tuesday’s pan-European Retail Sales figures.
Gold holds on to modest gains around $2,320
Gold trades decisively higher on the day above $2,320 in the American session. Retreating US Treasury bond yields after weaker-than-expected US employment data and escalating geopolitical tensions help XAU/USD stretch higher.
Bitcoin price holds above $63K as MicroStrategy tops BTC ownership list
Bitcoin (BTC) price recorded a rather bold two days this past weekend in a surge that saw millions in positions liquidated. However, the week is off to a calm start with altcoins sucking liquidity from the BTC market.
RBA expected to leave key interest rate on hold as inflation lingers
Interest rate in Australia will likely stay unchanged at 4.35%. Reserve Bank of Australia Governor Michele Bullock to keep her options open. Australian Dollar bullish case to be supported by a hawkish RBA.